AGF Announces Portfolio Manager Change

Stephen Way, CFA - Veteran International Investment Leader Assumes Management of Emerging Markets Strategies

TORONTO, April 9, 2012 /PRNewswire/ - AGF Management Limited (TSX: AGF.B) today announced that Patricia Perez-Coutts, Senior Vice-President and Portfolio Manager, will be leaving AGF effective May 2. Two other associates will also be leaving.  Stephen Way, Senior Vice President and Portfolio Manager and an AGF veteran of 25 years, will be responsible for the Emerging Markets strategies.

"AGF has the depth of talent to make this a seamless transition," said Martin Hubbes, Executive Vice-President, Investments and Chief Investment Officer of AGF Investments Inc. "Stephen is a top-rated Morningstar manager and the architect of our world-class Global Core strategy. His leadership combined with our bench strength and disciplined investment process has delivered strong results and gives us enormous confidence for continued success."

Stephen Way will be supported by long-standing global team members, Alpha Ba, CFA and Thiery Jannini, CFA.  Effective immediately, both have been promoted to Portfolio Manager, subject to usual regulatory requirements.

"The team will continue to draw on AGF's talented roster of professionals from around the world, including a number of leading managers and analysts who have an in-depth knowledge and understanding of the key sectors and companies in our portfolios. We are confident in our ability to maintain our strong long-term track record in this space. AGF remains focused on our clients in both our retail and institutional channels," Mr. Hubbes said.

Along with Stephen Way as lead manager, Alpha Ba will be co-managing the AGF Emerging Markets Fund, AGF Emerging Markets Class, AGF Emerging Markets Balanced Fund and AGF Emerging Markets Focused Fund. Thiery Jannini will be co-managing AGF Global Dividend Fund.

"We see considerable potential in expanding our international platform, which is already one of the broadest in Canada. Our goal is to build on the positive momentum we have seen in our investment management business, and this team will be a critical component to achieve it," said Mr. Hubbes.

AGF Investments is one of the largest independent Canadian-based investment management firms with operations and investments in Canada, the United States, the United Kingdom, Ireland and Asia.

About AGF Management Limited

AGF Management Limited is one of Canada's premier independent investment management firms with offices across Canada and subsidiaries around the world. AGF's products include a diversified family of award-winning mutual funds, mutual fund wrap programs and pooled funds. AGF 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 $47 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

Caution Regarding Forward-Looking Statements

This 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.

SOURCE AGF