AGF Securityholders Approve Investment Fund Mergers and Investment Objective Changes

AGF Also Announces Portfolio Manager Changes

TORONTO, April 10, 2012 /CNW/ - Following special securityholder meetings today, AGF Investments Inc. announced that the following changes to its product line-up have been approved by securityholders:

Fund Mergers

The mergers of the following funds:

• AGF Canadian Stock Class into AGF Canada Class
• AGF Canadian Value Fund into AGF Canadian Stock Fund
• AGF Global Resources Fund into Acuity Natural Resource Fund
• Acuity Canadian Balanced Fund into Acuity Conservative Asset Allocation Fund
• Alpha Social Values Portfolio into Acuity Social Values Balanced Fund
• Acuity Social Values Global Equity Fund into Acuity Social Values Canadian Equity Fund

Investment Objective Changes

Investment objective changes for the following funds:

• Acuity Social Values Canadian Equity Fund
• AGF Canadian Growth Equity Class
• AGF Canadian Growth Equity Fund
• AGF Canadian High Yield Bond Fund

AGF also announced the following portfolio manager changes to the funds listed below:

• Acuity EAFE Equity Fund (to be renamed AGF EAFE Equity Fund) - Highstreet Asset Management Inc. will replace Acuity Investment Management Inc. as the portfolio manager
• Acuity Natural Resource Fund (to be renamed AGF Global Resources Fund) - AGF Investments Inc. will replace Acuity Investment Management Inc. as the portfolio manager
• Acuity Growth & Income Fund (to be renamed AGF Tactical Income Fund) - Cypress Capital Management Ltd. will replace Acuity Investment Management Inc. as the portfolio manager

"We know that in today's marketplace investors are often overwhelmed with product choices," said Gordon Forrester, Executive Vice-President, Product and Marketing and Head of Retail. "With this in mind these changes were made to offer a product line-up that remains compelling and meets the needs of our clients."

The mergers will, subject to regulatory approval, take effect on or about May 25, 2012. The investment objective changes and portfolio manager changes will take effect on or about April 19, 2012.

About AGF Management Limited

AGF Management Limited is one of Canada's premier independent investment management firms with offices across Canada and subsidiaries around the world. AGF's products include a diversified family of award-winning mutual funds, mutual fund wrap programs and pooled funds. AGF also manages assets on behalf of institutional investors including pension plans, foundations and endowments as well as for private clients. In addition, AGF Trust is a complementary business that offers GICs, loans and mortgages through the financial advisor and mortgage broker channels. With approximately $47 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

For media inquiries, contact AGF Corporate Communications: 

Amanda Marchment
Manager, Corporate Communications
416-865-4160
am[email protected]