Mavrix Fund Management Inc.

Mavrix Fund Management Inc.

March 01, 2010 11:55 ET

Mavrix Fund Management Inc. Reports Sales and Assets Under Management Results February 2010

TORONTO, ONTARIO--(Marketwire - March 1, 2010) - Mavrix Fund Management Inc. ("Mavrix") today reported Assets under Management (AUM) and sales for the month ending February 28, 2010. Total AUM increased by 1.87% in February to $379.5 million and increased 0.24% year to date with a one year increase of 54.01% compared to February 28, 2009.

Mavrix reported Net Redemptions of $4.2 million on Gross Sales of $7.6 million for Mavrix Mutual Funds for the month ended February 28, 2010. A significant portion of the Gross Redemptions was attributable to unit holders raising funds in advance of Mavrix Limited Partnership IPO's.

On February 12, 2010, Mavrix announced the filing of the preliminary prospectus of the Mavrix Québec 2010 Flow Through L P (the "Partnership"). The Partnership will invest in a diversified portfolio of flow-through shares issued primarily by mining companies with exploration activities in the province of Québec. Previous to this latest offering, Mavrix has raised over $490 million through 19 resource limited partnerships.

"Nearly all Mavrix Mutual Funds posted positive 1 month performance in February. We continue to experience strong gross sales of our Mavrix Explorer Fund, one of Canada's top performing natural resource funds in 2009 and a 2010 Lipper Award winner, and our income oriented funds such as the Mavrix Balanced Monthly Pay Fund." said David Balsdon, CCO, Secretary-Treasurer and Vice President.

  AUM as at
February 28, 2010
AUM as at
January 31, 2010
AUM as at
December 31, 2009
AUM as at
February 28, 2009
Mavrix Mutual Funds $330,492,219 $323,346,432 $329,752,381 $208,789,094
Specialty Funds $48,976,175 $49,145,702 $48,818,763 $37,597,219
Total Assets Under Management (AUM) $379,468,394 $372,492,134 $378,571,144 $246,386,313
All amounts are expressed in Canadian dollars.

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:MTA). 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.

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