AGF Investments Temporarily Caps AGF Monthly High Income Class

About this update from Agf Management Limited Class B

[{"type":"text","content":"\n\n\n\n\n\nTORONTO, April 1, 2013 /CNW/ - AGF Investments Inc. today announced that\n it will be temporarily capping all purchases and switches into the AGF\n Monthly High Income Class, as of April 2. The move is in response to\n the March 21 federal budget regarding the use of forward contracts for\n the purposes of converting income returns to capital gains. AGF is\n pursuing this temporary course of action in order to protect the\n integrity of the All World Tax Advantage Group (AWTAG) and act in the\n best interest of existing shareholders of the corporation.\n\n\n\"We have undertaken this temporary measure in order to protect the\n interests of our investors,\" said Gordon Forrester, Executive\n Vice-President, Marketing and Product, Head of Retail. \"Until we\n receive clarification on these new regulations, we believe the prudent\n move for us is to protect existing shareholders from any potential\n uncertainty.\"\n\n\nThe federal budget announced that returns on Yield Class funds earned\n from the reference funds via forward contracts would be treated as\n ordinary income rather than capital gains. In order to limit the\n exposure to risk, this cap on the AGF Monthly High Income Class will\n remain in effect while AGF works with the government and regulators to\n understand the full implications of the change. As of the end of\n February 2013, AGF's AUM in AGF Monthly High Income Class was $22\n million.\n\n\nAbout AGF Management Limited\n\n\nAGF Management Limited is one of Canada's premier independent investment\n management firms with offices across Canada and subsidiaries around the\n world. AGF's products include a diversified family of award-winning\n mutual funds, mutual fund wrap programs and pooled funds. AGF also\n manages assets on behalf of institutional investors including pension\n plans, foundations and endowments as well as for private clients. With\n over $39 billion in total assets under management, AGF serves more than\n one million investors. AGF trades on the Toronto Stock Exchange under\n the symbol AGF.B.\n\n\nCaution Regarding Forward-Looking Statements \nThis release includes forward-looking statements. Forward-looking\n statements include statements that are predictive in nature, depend\n upon or refer to future events or conditions, or include words such as\n 'expects,' 'anticipates,' 'intends...

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