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Mavrix Fund Management Inc. reports Sales and Assets under Management Results for May 2009

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  Published in Business and Finance on Monday, June 1st 2009 at 14:04 GMT, Last Modified on 2009-06-01 14:04:51 by Market Wire
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 TORONTO, June 1 /CNW/ - Mavrix Fund Management Inc. (TSX: MVX) today reported Assets under Management (AUM) and sales for the month ending May 31, 2009. Total AUM increased by 11.65% in May to $307.5 million with a year to date increase of 19.45% and a one year decrease of 44.87% compared to May 31, 2008. Mavrix reported Net Sales of $0.4 million on Gross Sales of $7.0 million for Mavrix Mutual Funds for the month ended May 31, 2009. On May 29, 2009, Mavrix announced the filing of the final prospectus of the Mavrix Explore 2009-I 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 activities in Canada. There will be an initial closing scheduled for June 4, 2009. Previous to this latest offering, Mavrix has raised over $475 million through 16 resource limited partnerships. "Most of our funds had another good month in terms of performance," said David Balsdon, CCO, Secretary-Treasurer and Vice President. "Gross Sales continue to improve, primarily in our resource and small cap equity funds as well as our conservative income oriented funds." ------------------------------------------------------------------------- AUM as at AUM as at AUM as at AUM as at May 31, April 30, December 31, May 31, 2009 2009 2008 2008 ------------------------------------------------------------------------- Mavrix Mutual Funds $268,845,860 $242,651,221 $219,430,243 $437,304,047 ------------------------------------------------------------------------- Specialty Funds $38,666,754 $32,771,922 $38,000,417 $120,499,891 ------------------------------------------------------------------------- Total Assets Under Manage- ment (AUM) $307,512,614 $275,423,143 $257,430,660 $557,803,938 ------------------------------------------------------------------------- All amounts are expressed in Canadian dollars. About Mavrix Fund Management Inc. --------------------------------- Mavrix Fund Management Inc. (TSX: MVX) 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. Additional information about Mavrix can be found at [ www.mavrixfunds.com ]. %SEDAR: 00020385E 

For further information: Mavrix Fund Management Inc. at (416) 362-3077, 1-888-964-3533 or [ www.mavrixfunds.com ]