AGF Management Limited reported total fee-earning assets under management (AUM) of $42.1 billion as at July 31, 2010, an increase of 5.3% from July 31, 2009.

($ millions)	Assets at July 31/10	Gross Sales July 2010	Redemptions July 2010	Net Sales July 2010	Net Sales July 2009
Long-term Funds	$20,865	$153.3	$404.6	$(251.3)	$(48.4)
Money Market	423	8.4	18.9	(10.5)	(12.0)
Total Mutual Funds	$21,288	$161.7	$423.5	$(261.8)	$(60.4)
Institutional and Strategic Accounts + High-net-worth	20,802
Total Assets	$42,090

Net redemptions of long-term mutual funds for the month ended July 31, 2010 were $251.3 million compared with long-term mutual fund net redemptions of $48.4 million in July 2009. Redemptions of long-term mutual funds in July 2010 included $140.5 million of redemptions related to a rebalance transaction by an institutional investor.

Average daily mutual fund AUM for July 2010 was $21.2 billion compared to $21.0 billion in July 2009. AGF institutional, strategic and high-net-worth AUM increased to $20.8 billion from $18.4 billion at July 2009 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 $42 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.

AGF Management Limited shareholders and analysts, please contact:

Robert J. Bogart, CPA
Senior Vice-President and Chief Financial Officer
416-865-4264, bob.bogart@AGF.com

Deirdre Neary
Director, Investor Relations
416-815-6268, deirdre.neary@AGF.com

Media, please contact:

Lucy Becker
Vice-President, Public Relations and Public Affairs
416-865-4284, lucy.becker@AGF.com