Press release from CNW Group
AGF Acquires Robitaille Asset Management Inc.
Tuesday, July 03, 2012
AGF Acquires Robitaille Asset Management Inc.17:26 EDT Tuesday, July 03, 2012Marc-AndréRobitaille joins AGF's investment management teamTORONTO, July 3, 2012 /CNW/ - AGF Investments Inc. (AGF) announced today the acquisition of 100% of Robitaille Asset Management Inc. (RAM), a Montreal-based investment firm responsible for the management of AGF Dividend Income Fund. AGF and RAM have also amalgamated today, continuing as one company under the name AGF Investments Inc.Founded by Marc-André Robitaille in 2007, RAM and AGF have a longstanding and exclusive relationship. With AUM in excess of $615 million, RAM specializes in Canadian equity and income mandates. As a result of the acquisition and amalgamation, Robitaille and his team will join AGF's investment management team.Marc-André and his team will remain based in Montreal and will play a key role as AGF strengthens its commitment to the Quebec and Eastern Canada market."We are excited about joining the AGF family. As part of this larger team we will have greater access to the research and resources we need to grow our investment management capabilities," said Robitaille, who remains the lead portfolio manager on AGF Dividend Income Fund."This acquisition solidifies our relationship with Marc-André and enhances AGF's position in the Canadian equity and income space," said Martin Hubbes, Executive Vice-President, Investments and Chief Investment Officer. "Building on his strong track record we will be able to leverage his capabilities across our retail, key accounts and institutional distribution networks."Robitaille will also manage the equity component of AGF Traditional Balanced Fund, while Tristan Sones will continue to lead the fixed income component.About AGF Management LimitedAGF Management Limited (AGFML) is one of Canada's premier independent investment management firms with offices across Canada and subsidiaries around the world. AGFML's products include a diversified family of award-winning mutual funds, mutual fund wrap programs and pooled funds. AGFML also manages assets on behalf of institutional investors including pension plans, foundations and endowments as well as for private clients. In addition, AGF Trust is a complementary business that offers GICs, loans and mortgages through the financial advisor and mortgage broker channels. With over $43 billion in total assets under management, AGFML serves more than one million investors. AGFML trades on the Toronto Stock Exchange under the symbol AGF.B.Caution Regarding Forward-Looking StatementsThis release includes forward-looking statements. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes' or negative versions thereof and similar expressions, or future or conditional verbs such as 'may,' 'will,' 'should,' 'would' and 'could.' Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations, economic factors, business prospects, business performance and opportunities. While the company considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking statements are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements due to, but not limited to, important risk factors such as level of assets under management, volume of sales and redemptions of investment products, performance of investment funds and of investment managers and advisors, competitive fee levels for investment management products and administration, and competitive dealer compensation levels, size and default experience on the company's loan portfolio and cost efficiency in loan operations and investment management operations, as well as interest and foreign-exchange rates, taxation, changes in government regulations, unexpected judicial or regulatory proceedings, and the company's ability to complete strategic transactions and integrate acquisitions. The company cautions that the foregoing list is not exhaustive. The reader is cautioned to consider these and other factors carefully and not place undue reliance on forward-looking statements. Forward-looking statements are given only as at the date of this release and other than specifically required by applicable laws, the company is under no obligation (and expressly disclaims any such obligation) to update or alter the forward-looking statements, whether as a result of new information, future events or otherwise. Additional risks and uncertainties can be found in our MD&A for the fiscal year ended November 30, 2011 under the headings "Caution Regarding Forward-Looking Statements" and "Risk Factors and Management of Risk" and in our other filings with Canadian securities regulatory authorities.For further information: For media inquiries, contact AGF Corporate Communications: Amanda Marchment Manager, Corporate Communications 416-865-4160 email@example.com