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AGF reports 3.8 per cent increase in AUM in July

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AGF Management has reported total fee-earning assets under management of USD40.0bn as at 31 July 2009, an increase of 3.8 per cent from 30 June 2009.

AGF Management has reported total fee-earning assets under management of USD40.0bn as at 31 July 2009, an increase of 3.8 per cent from 30 June 2009.

Mutual fund assets of USD21.6bn increased 1.5 per cent during the month of July, marking the fifth consecutive month of rising AUM.

Net redemptions of long-term mutual funds were USD48.4m for the month ended 31 July 2009, compared with long-term fund net redemptions of USD128.3m in July 2008.

Average daily mutual fund AUM for July 2009 was USD21.0bn. AGF institutional, strategic and high-net-worth AUM declined to USD18.4bn from USD21.7bn at July 2008, primarily as a result of market volatility.

AGF Management is an investment management company with offices across Canada and subsidiaries around the world. AGF’s products and services include a diversified family of mutual funds, AGF Elements portfolios, the Harmony asset management programme, services for institutional and high-net-worth clients, as well as AGF Trust GICs, loans and mortgages.

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