AGF Investments Inc. (AGF) today announced that it has been awarded a Natural Resources mandate by China's National Council for Social Security Fund (NCSSF).
The NCSSF, a government agency on the ministerial level directly under the State Council of the People's Republic of China, is responsible for the management and operation of the National Social Security Fund.
"This is a landmark win for AGF and for our expansive global institutional business," said Blake C. Goldring, Chairman and Chief Executive Officer of AGF Management Limited. "With our history of over five decades of investment management experience, pension funds and institutional investors continue to show confidence in our disciplined investment philosophies and processes."
The mandate will be managed by AGF's Global Resources team, led by Robert Lyon - a seasoned resources manager with over 20 years of investment experience.
AGF has been managing a global resources strategy for over a decade and currently oversees more than $1.3 billion in total Global Resources Equity Strategy assets as of June 30, 2012.
The NCSSF engaged AGF in a thorough review process before granting the mandate.
"We are honoured to have been awarded this significant mandate which recognizes AGF's proven track record in managing resources portfolios," said Chris Boyle, Senior Vice-President, Institutional for AGF Investments Inc. "Our award-winning Global Resources team is well known for generating consistent results and will use its disciplined investment process to build retirement savings for Chinese investors."
"As a leading global investment management firm with a presence in Beijing, Hong Kong and Singapore, we are pleased to be working with the NCSSF and look forward to developing a long-term relationship with them as we strengthen our commitment to doing business in this region," added Goldring.
On August 1, 2000, the Central Committee of CPC and the State Council decided to establish the National Social Security Fund and the National Council for Social Security Fund (NCSSF) to manage and operate the assets of the National Social Security Fund. The Fund serves as the social security strategic reserve centralized by the central government to meet the social security needs during the peak time period of the future aging population. For more information on the NCSSF, visit http://www.ssf.gov.cn/Eng_Introduction/201206/t20120620_5603.html.
About AGF Management Limited
AGF Management Limited (AGFML) is one of Canada's premier independent investment management firms with offices across Canada and subsidiaries around the world. AGFML's products include a diversified family of award-winning mutual funds, mutual fund wrap programs and pooled funds. AGFML 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 $43 billion in total assets under management, AGFML serves more than one million investors. AGFML trades on the Toronto Stock Exchange under the symbol AGF.B.
For more information, contact AGF Corporate Communications:
Karen Archer, Manager
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