The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

AGF Wins Natural Resources Mandate for National Social Security Fund in China

Thursday, July 19, 2012

AGF Wins Natural Resources Mandate for National Social Security Fund in China09:20 EDT Thursday, July 19, 2012TORONTO, July 19, 2012 /CNW/ - AGF Investments Inc. (AGF) today announced that it has been awarded a Natural Resources mandate by China's National Council for Social Security Fund (NCSSF).The NCSSF, a government agency on the ministerial level directly under the State Council of the People's Republic of China, is responsible for the management and operation of the National Social Security Fund."This is a landmark win for AGF and for our expansive global institutional business," said Blake C. Goldring, Chairman and Chief Executive Officer of AGF Management Limited. "With our history of over five decades of investment management experience, pension funds and institutional investors continue to show confidence in our disciplined investment philosophies and processes."The mandate will be managed by AGF's Global Resources team, led by Robert Lyon - a seasoned resources manager with over 20 years of investment experience.AGF has been managing a global resources strategy for over a decade and currently oversees more than $1.3 billion in total Global Resources Equity Strategy assets as of June 30, 2012.The NCSSF engaged AGF in a thorough review process before granting the mandate."We are honoured to have been awarded this significant mandate which recognizes AGF's proven track record in managing resources portfolios," said Chris Boyle, Senior Vice-President, Institutional for AGF Investments Inc. "Our award-winning Global Resources team is well known for generating consistent results and will use its disciplined investment process to build retirement savings for Chinese investors.""As a leading global investment management firm with a presence in Beijing, Hong Kong and Singapore, we are pleased to be working with the NCSSF and look forward to developing a long-term relationship with them as we strengthen our commitment to doing business in this region," added Goldring.About NCSSFOn August 1, 2000, the Central Committee of CPC and the State Council decided to establish the National Social Security Fund and the National Council for Social Security Fund (NCSSF) to manage and operate the assets of the National Social Security Fund.  The Fund serves as the social security strategic reserve centralized by the central government to meet the social security needs during the peak time period of the future aging population. For more information on the NCSSF, visit http://www.ssf.gov.cn/Eng_Introduction/201206/t20120620_5603.htmlAbout AGF Management Limited AGF 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 approximately $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: contact AGF Corporate Communications: Karen Archer, Manager 416-865-4295 Karen.Archer@agf.com