TORONTO, Nov. 3 /CNW/ -- AGF Management Limited (AGF) reported total fee-earning assets under management (AUM) of $43.3 billion as at October 31, 2009, an increase of 14.8% from October 31, 2008. Net redemptions of long-term mutual funds were $65.2 million for the month ended October 31, 2009, compared with long-term mutual fund net redemptions of $214.2 million in October 2008.

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($ millions)                    Gross
Assets at    Sales   Redemptions Net Sales  Net Sales
October    October    October    October    October
30/09       2009       2009       2009       2008
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Long-term Funds      $22,247     $196.1     $276.2     $(80.1)   $(158.0)
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Long-term Funds      $21,705     $229.2     $294.4     $(65.2)   $(214.2)
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Money Market            519        12.1       25.2      (13.1)     (18.2)
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Total Mutual Funds   $22,224     $241.3     $319.6     $(78.3)   $(232.4)
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Institutional and
Strategic Accounts
+ High-net-worth     21,119
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Total Assets         $43,343
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Average daily mutual fund AUM for October 2009 increased to $22.7 billion compared to $20.9 billion in October 2008 as a result of market appreciation. AGF institutional, strategic and high-net-worth AUM increased to $21.1 billion from $17.3 billion at October 2008 as a result of market appreciation and new mandates.

About AGF Management Limited

AGF Management Limited is one of Canada's premier investment solutions firms with offices across Canada and subsidiaries around the world. AGF's products and services include a diversified family of award-winning mutual funds, AGF Elements portfolios, the Harmony asset management program, services for institutional and private clients, as well as AGF Trust GICs, loans and mortgages. With approximately $43.3 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.