AGF Funds Inc. today announced the appointment of AGF International Advisors Company Limited (AGFIA) as the Portfolio Advisor to its Canadian value funds.   This appointment gives AGFIA the mandate to apply the proven benefits of its value investment strategy to all AGF value funds.

Effective today, AGFIA is the Portfolio Advisor for the AGF Canadian Value Fund and the AGF Canadian Balanced Value Fund, previously called the AGF Canadian Real Value Fund and the AGF Canadian Real Value Balanced Fund.  AGFIA veteran John Arnold, supported by Niall Dineen and Richard McGrath, will advise on these Canadian value funds.   AGF Funds Inc. remains Portfolio Manager for both Canadian value funds.

“This is a significant move for AGF and reinforces our commitment to building a world-class team and consistency in the investment management processes we use,” said Funds Inc. President Randy G. Ambrosie.  “We are excited about the potential that this appointment creates for investors in our Canadian value funds by having the AGFIA team apply the same process it has used successfully on other funds to identify the best value opportunities in Canada.”

Using its proven value investment process, AGFIA seeks out quality franchises that are currently out of favour, backs the findings with rigorous due diligence and then patiently holds those stocks until they realize value.

AGF established the Dublin-based AGFIA in 1991.  In 2006, AGF named AGFIA as Portfolio Advisor to its international value funds. 

AGF’s Canadian value funds had been previously managed by Keith Graham, who has decided to leave the firm.

About AGF Management Limited

AGF Management Limited is one of Canada’s premier investment management companies with offices across Canada and subsidiaries around the world. 2007 marks AGF’s 50th anniversary of providing Canadians with innovative investment solutions across the wealth continuum. AGF’s products and services include a diversified family of more than 50 mutual funds, the evolutionary AGF Elements portfolios, the Harmony asset management program, AGF Institutional Account Services, private client products, and AGF Trust GICs, loans and mortgages. With approximately $55 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 more information contact:

AGF Corporate Communications

Lucy Becker, Vice-President
416-865-4284
Lucy.Becker@agf.com

Paul Howard, Director
416-865-4345
paul.howard@agf.com