Mavrix Fund Management Inc.

Mavrix Fund Management Inc.

January 20, 2010 10:01 ET

Mavrix Fund Management Inc. Appoints Sub-Advisor for Mavrix Dividend & Income Fund and Mavrix Strategic Bond Fund

TORONTO, ONTARIO--(Marketwire - Jan. 20, 2010) -

Attention Business Editors:

Mavrix Fund Management Inc. ("Mavrix"), the manager and trustee of Mavrix Dividend & Income Fund and Mavrix Strategic Bond Fund (the "Funds"), today announced that it has entered into an investment sub-advisory agreement with SEAMARK Asset Management Ltd. ("SEAMARK"). Under the agreement, SEAMARK will act as the investment sub-advisor to Mavrix in respect of the Funds effective January 25, 2010. Mavrix will continue to act as the manager and trustee of the Funds.

Growth Works Ltd., which controls Mavrix through its wholly-owned subsidiary 1796862 Ontario Ltd., is an affiliate of SEAMARK following the closing on January 15, 2010 of a business combination transaction whereby Growth Works Ltd. and SEAMARK became subsidiaries of Matrix Asset Management Inc., a diversified asset management company that is incorporated under the Canada Business Corporations Act and the common shares of which are listed on the Toronto Stock Exchange.

The fundamental investment objective of Mavrix Dividend & Income Fund is to provide high investment returns through a combination of interest and dividend income and capital gains by investing primarily in fixed income and equity securities of Canadian companies. The fundamental investment objective of Mavrix Strategic Bond Fund is to provide income by investing primarily in fixed income securities of Canadian governments and companies.

About Mavrix Fund Management Inc.

Mavrix Fund Management Inc. is an asset management company founded and operated by experienced portfolio managers. The company offers a focused lineup of concentrated, actively managed funds that aim to complement mainstream funds. Mavrix supports its products by providing financial advisors with regular and direct access to portfolio managers and unbiased commentary, which has enabled the company to become a trusted advisor to its clients. Mavrix is headquartered in Toronto with offices in Montreal. Mavrix is a subsidiary of Matrix Asset Management Inc.(TSX:MTX). Matrix manages combined assets of approximately $3 billion through three operating divisions - institutional asset management, conventional and specialty mutual funds, and venture capital/private equity.

About SEAMARK Asset Management Ltd.

SEAMARK Asset Management Ltd. provides investment management services across Canada to institutional clients, mutual funds, private clients, and the managed portfolio advisory programs (wrap programs) of many of Canada's leading investment dealers. SEAMARK Asset Management Ltd. is a subsidiary of Matrix Asset Management Inc.(TSX:MTX). Matrix manages combined assets of approximately $3 billion through three operating divisions - institutional asset management, conventional and specialty mutual funds, and venture capital/private equity.

Contact Information

  • Mavrix Fund Management Inc.
    David Balsdon
    Chief Compliance Officer, Secretary-Treasurer
    and Vice-President
    (416) 365-4201
    dbalsdon@mavrixfunds.com