Press Releases

AGF Announces Changes to the Portfolio Management of Harmony Pools

May 14, 2015 • Products

-Also announces closing of AGF Inflation Focus Fund

As part of our ongoing portfolio manager reviews and evaluations with third-party consultant Wilshire Associates, AGF Investments Inc. (AGF) today announced changes to the portfolio management of the Harmony Pools, effective on or about June 5, 2015.

Harmony Canadian Equity Pool

•    AGF, Connor, Clark & Lunn Investment Management Ltd., Manulife Asset Management Limited and Highstreet Asset Management Inc. will continue to manage the Pool, while Scheer, Rowlett & Associates Investment Management Ltd. will no longer be a portfolio manager on the Pool.

Harmony Overseas Equity Pool

•    AGF, Barrow, Hanley, Mewhinney & Strauss, LLC and Harding Loevner LP will continue to manage the Pool, while Aberdeen Asset Management Inc. will no longer be a portfolio manager on the Pool.

Harmony U.S. Equity Pool

•    AGF, C.S. McKee, L.P. and Eagle Boston Investment Management, Inc. will continue to manage the Pool, while INTECH Investment Management LLC and Systematic Financial Management, L.P. will no longer be portfolio managers on the Pool.

These changes were recommended by Wilshire Associates following quantitative and qualitative reviews as well as quarterly due diligence calls with each manager.

 “With these changes, we aim to address duplication and streamline the number of portfolio managers and strategies within each Pool. By concentrating on the optimal combinations of portfolio managers we are focused on providing strong risk-adjusted returns for our clients,” said Kevin McCreadie, President and Chief Investment Officer, AGF Investments Inc.

AGF also announced today that AGF Inflation Focus Fund will be terminated on or about July 17th, 2015.

Effective today, units of AGF Inflation Focus Fund will no longer be available for purchase.

The decision to close the Fund was driven by a combination of the small number of unitholders, relatively low assets and the cost associated with maintaining such a small fund.

Prior to the termination on or about July 17th, 2015, unitholders of the Fund will have the option to switch their investment to another fund within the AGF Group of Funds or to redeem their units.

Any unitholders who hold AGF Inflation Focus Fund in an AGF registered account and who remain in the Fund on the termination date will be transferred into the Front-End (FE) mutual fund series of AGF Canadian Money Market Fund on or about July 17th, 2015.

Unitholders will not be required to pay any redemption fees or sales charges.

AGF strongly encourages unitholders to consult with their financial advisor to discuss their individual circumstances, including possible tax consequences, and determine the solution that best meets their investment needs.

About AGF Management Limited

AGF Management Limited is one of Canada's premier independent investment management firms with offices across Canada and subsidiaries around the world. AGF's products include a diversified family of mutual funds, mutual fund wrap programs and pooled funds. AGF also manages assets on behalf of institutional investors including pension plans, foundations and endowments as well as for private clients. With over $35 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.

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