Mavrix Fund Management Inc.

Mavrix Fund Management Inc.

December 02, 2009 09:43 ET

Mavrix Fund Management Inc. Reports Sales and Assets Under Management Results for November 2009

TORONTO, ONTARIO--(Marketwire - Dec. 2, 2009) - Mavrix Fund Management Inc. ("Mavrix") today reported Assets under Management (AUM) and sales for the month ending November 30, 2009. Total AUM increased by 4.44% in November to $367.0 million with a year to date increase of 42.56% and a one year increase of 38.28% compared to November 30, 2008.

Mavrix reported Net Redemptions of $0.8 million on Gross Sales of $8.4 million for Mavrix Mutual Funds for the month ended November 30, 2009. A significant portion of the Gross Redemption amount was attributable to unit holders raising funds in advance of Mavrix Limited Partnership IPO's.

On November 17 and 26, 2009, Mavrix announced the final closings, respectively, of the Mavrix Quebec 2009 FT Limited Partnership ("the Quebec LP") which raised $5.347 million in total and the Mavrix Explore 2009-II FT Limited Partnership (the "LP") which raised $5.000 million in total. Previous to these latest offerings, Mavrix has raised over $480 million through 17 resource limited partnerships.

"Mavrix experienced its ninth straight month of increasing AUM due to positive combined mutual fund and LP sales results plus strong fund performance. We continue to experience increasing sales in our Mavrix Explorer Fund, Mavrix Asia Pacific Fund and our income oriented funds." said David Balsdon, CCO, Secretary-Treasurer and Vice President.

AUM as at AUM as at AUM as at AUM as at
November 30, October 31, December 31, November 30,
2009 2009 2008 2008
Mavrix Mutual
Funds $319,974,722 $310,158,155 $219,430,243 $230,625,687
Specialty Funds $47,011,856 $41,217,021 $38,000,417 $34,768,108
Total Assets
Under Management
(AUM) $366,986,578 $351,375,176 $257,430,660 $265,393,795
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's parent company is GrowthWorks Ltd. GrowthWorks Ltd. venture capital division specializes in the management and growth of regionally based venture capital funds. GrowthWorks Ltd. has combined assets under management of over $1 billion.

Contact Information