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

^{Published on 2009-07-02 13:55:37, Last Modified on 2009-07-02 13:55:44 - Market Wire}
 

 TORONTO, July 2 /CNW/ - Mavrix Fund Management Inc. (TSX: MVX) today reported Assets under Management (AUM) and sales for the month ending June 30, 2009. Total AUM increased by 2.03% in June to $313.8 million with a year to date increase of 21.88% and a one year decrease of 41.80% compared to June 30, 2008. Mavrix reported Net Redemptions of $1.3 million on Gross Sales of $6.3 million for Mavrix Mutual Funds for the month ended June 30, 2009. Mavrix announced the initial and second closing of the Mavrix Explore 2009-I FT Limited Partnership (the "LP") on June 04, 2009 and June 30, 2009 respectively. Total proceeds of $5.5 million were raised from the two closings. 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 a final closing scheduled for July 16, 2009. Previous to this latest offering, Mavrix has raised over $475 million through 16 resource limited partnerships. "Mavrix experienced its fourth straight month of increasing AUM." said David Balsdon, CCO, Secretary-Treasurer and Vice President. "Gross Sales for our mutual funds continue to improve and, when LP proceeds are included, we had another month of positive sales activity." ------------------------------------------------------------------------- AUM as at AUM as at AUM as at AUM as at June 30, May 31, December 31, June 30, 2009 2009 2008 2008 ------------------------------------------------------------------------- Mavrix Mutual Funds $269,288,736 $268,845,860 $219,430,243 $409,550,666 ------------------------------------------------------------------------- Specialty Funds $44,478,805 $38,666,754 $38,000,417 $129,530,477 ------------------------------------------------------------------------- Total Assets Under Management (AUM) $313,767,541 $307,512,614 $257,430,660 $539,081,143 ------------------------------------------------------------------------- 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 ]