AGF Funds Inc.

AGF Funds Inc.

August 25, 2008 13:00 ET

AGF Challenges Competitors to a 'Pedal Off'

Mutual fund companies set target to raise $135,000 for JDRF's 2008 Ride for Diabetes Research

TORONTO, ONTARIO--(Marketwire - Aug. 25, 2008) -

Editors Note: A photo for this release will be available via Marketwire on the picture wire of The Canadian Press.

AGF Funds Inc.(TSX:AGF.B) today issued a 'battle of the bikes' challenge to other mutual fund companies to raise awareness for and encourage their participation in the Sept. 19 Juvenile Diabetes Research Foundation's 2008 Ride for Diabetes Research.

"We want to make this year's JDRF Ride for Diabetes Research Mutual Fund Challenge bigger and better than ever, so we're excited to challenge other mutual fund companies to pedal up and raise funds for such an important cause," said AGF Funds Inc. President Randy Ambrosie. "We plan to give our competitors a real 'ride for their money'. It's a fantastic way to spend a Friday afternoon."

Last year, over 300 enthusiastic and high-energy riders from seven mutual funds companies took part in the Mutual Fund Challenge held at Nathan Phillips raising a total of $110,000, a 50% increase from 2006.

AGF has proudly participated in JDRF's Ride for Diabetes Research in Toronto for the past five years. "We have a long tradition of supporting causes to make our communities a better place to live and work," said Judy Goldring, AGF's General Counsel and Senior Vice-President, Law and Corporate Affairs, who has chaired the firm's JDRF Campaign since 2003. "I'm thrilled that several mutual fund companies and their employees have also embraced this event, rising to the challenge year after year."

This year, AGF's target is to increase total funds raised to $70,000 through individual pledges, a corporate donation and other summer fundraising efforts. The 2008 Mutual Fund Challenge target is $135,000. The winner of the Challenge takes home the Ride Cup for the Company that has the highest average amount raised per rider.

"We're delighted that the mutual fund industry has taken the cause of juvenile diabetes to heart and has been committed to raising awareness and funds for the Ride for Diabetes Research over the years," said JDRF Canada President and CEO Andrew McKee. "We hope that AGF's excitement and passion is contagious and encourages even more mutual fund companies to get involved in this year's Ride events."

For more information on JDRF's 2008 Ride for Diabetes Research, go to:

About Juvenile Diabetes Research Foundation Canada:

Juvenile Diabetes Research Foundation (JDRF) is the lead charitable funder and advocate of Type 1 diabetes research worldwide. The mission of JDRF is to find a cure for diabetes and its complications through the support of research. JDRF funding and leadership is associated with most major scientific breakthroughs in Type 1 diabetes research to date. In fact, JDRF funds a major portion of all Type 1 diabetes research worldwide, more than any other nongovernmental source of funding. In 2007, JDRF Canada provided $8 million to diabetes research. Worldwide, JDRF is responsible for more than $1.2 billion in direct funding.

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. 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 Asset Management Group services for institutional and high-net-worth clients, as well as AGF Trust GICs, loans and mortgages. With approximately $48 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".


Contact Information

  • AGF Corporate Communications
    Lucy Becker
    (416) 865-4284
    AGF Corporate Communications
    Karen Archer
    Media Relations Manager
    (416) 865-4295