Mavrix Fund Management Inc.

Mavrix Fund Management Inc.

April 01, 2010 15:25 ET

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

TORONTO, ONTARIO--(Marketwire - April 1, 2010) - Mavrix Fund Management Inc. ("Mavrix") today reported Assets under Management (AUM) and sales for the month ending March 31, 2010. Total AUM decreased by 1.37% in March to $374.3 million and decreased 1.14% year to date with a one year increase of 46.40% compared to March 31, 2009.

Mavrix reported Net Sales of $26.4 million on Gross Sales of $48.8 million for Mavrix Mutual Funds for the month ended March 31, 2010. The majority of the Gross Sales resulted from the rolling over of four Mavrix resource limited partnerships into the Mavrix Multi Series Ltd. – Explorer Series Fund on March 05 and March 19, 2010. A significant portion of the Gross Redemption activity was attributable to unit holders raising funds in advance of Mavrix Limited Partnership IPO's initial and secondary closings scheduled in March and April.

On March 31, 2010, Mavrix announced the initial closing of the Mavrix Québec 2010 Flow Through L P (the "Partnership"). Gross proceeds raised for the LP were $3.7 million. Previous to this latest offering, Mavrix has raised over $490 million through 19 resource limited partnerships.

"Outside of the limited partnership rollover activity, Mavrix posted net sales in aggregate for mutual fund and limited partnership product lines this month. 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
March 31, 2010
AUM as at
February 28, 2010
AUM as at
December 31,
2009
AUM as at
March 31, 2009
Mavrix Mutual Funds $361,727,886 $330,492,219 $329,752,381 $226,735,894
Specialty Funds $12,537,146 $48,976,175 $48,818,763 $28,912,600
Total Assets Under Management (AUM) $374,265,032 $379,468,394 $378,571,144 $255,648,494
         
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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