Mavrix Fund Management Inc.

Mavrix Fund Management Inc.

February 01, 2010 11:57 ET

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

TORONTO, ONTARIO--(Marketwire - Feb. 1, 2010) - Mavrix Fund Management Inc. ("Mavrix") today reported Assets under Management (AUM) and sales for the month ending January 31, 2010. Total AUM decreased by 1.61% in January to $372.5 million with a one year increase of 45.07% compared to January 31, 2009.

Mavrix reported Net Redemptions of $2.3 million on Gross Sales of $7.9 million for Mavrix Mutual Funds for the month ended January 31, 2010.

On January 27, 2010, Mavrix announced the filing of the preliminary prospectus of the Mavrix Explore 2010-I FT Limited Partnership (the "LP"). The LP will primarily invest in a diversified portfolio of flow-through shares of resource issuers engaged in mineral or oil and gas exploration in Canada. Previous to this latest offering, Mavrix has raised over $490 million through 19 resource limited partnerships.

"Market conditions dampened our AUM growth in the latter half of January but we continue to experience increasing gross sales of our Mavrix Explorer Fund, one of Canada's top performing natural resource funds in 2009, 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 January 31, 2010 AUM as at December 31, 2009 AUM as at January 31, 2009
Mavrix Mutual Funds $323,346,432 $329,752,381 $213,904,088
Specialty Funds $49,145,702 $48,818,763 $42,864,277
Total Assets Under Management (AUM) $372,492,134 $378,571,144 $256,768,365
       
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: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.

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