Mavrix Fund Management Inc.

Mavrix Fund Management Inc.

October 02, 2009 14:17 ET

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

TORONTO, ONTARIO--(Marketwire - Oct. 02, 2009) - Mavrix Fund Management Inc. ("Mavrix") today reported Assets under Management (AUM) and sales for the month ending September 30, 2009. Total AUM increased by 4.91% in September to $349.9 million with a year to date increase of 35.92% and a one year decrease of 11.60% compared to September 30, 2008.

Mavrix reported Net Redemptions of $3.2 million on Gross Sales of $5.8 million for Mavrix Mutual Funds for the month ended September 30, 2009. A significant portion of the Gross Redemptions was attributable to unit holders raising funds in advance of Mavrix Limited Partnership IPO's.

On September 04, 2009, Mavrix announced the filing of the preliminary prospectus of the Mavrix Explore 2009-II FT Limited Partnership (the "LP"). The LP will invest in a diversified portfolio of flow-through shares issued primarily by mining companies that engage in exploration. On October 02, 2009, Mavrix announced the initial closing of the Mavrix Quebec 2009 FT Limited Partnership which raised $2.5 million. A second closing is expected to occur on October 29, 2009. Previous to these latest offerings, Mavrix has raised over $480 million through 17 resource limited partnerships.

"Mavrix experienced its seventh straight month of increasing AUM due to improving sales results and fund performance. Of note, the Mavrix Explorer Fund continues to be one of the leading Canadian natural resource funds in terms of year to date performance." said David Balsdon, CCO, Secretary-Treasurer and Vice President.

AUM as at AUM as at AUM as at AUM as at
September 30, August 31, December 31, September 30,
2009 2009 2008 2008
Mavrix Mutual
Funds $314,188,162 $300,530,468 $219,430,243 $333,131,093
Specialty Funds $35,721,938 $33,014,820 $38,000,417 $62,682,914
Total Assets
Under Management
(AUM) $349,910,100 $333,545,288 $257,430,660 $395,814,007

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 Halifax, Montreal and Winnipeg. 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.

SEDAR # 00020385

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