Ms. Amanda Marchment reports

AGF COMPLETES STRATEGIC INVESTMENT IN KENSINGTON CAPITAL PARTNERS LIMITED

AGF Management Ltd. has completed the previously announced strategic investment to acquire a majority interest in Kensington Capital Partners Ltd., one of Canada's leading alternative investment firms, a key step in AGF's strategic imperative to grow its alternatives business, AGF Capital Partners.

AGF's strategic vision is to continue to build a best-in-class alternatives business providing a diversified range of innovative solutions that meet the unique needs of financial advisers and their investors, family offices and institutions. The growth of AGF Capital Partners will further expand AGF's investment capabilities and increase management and performance fee revenues, all of which are expected to contribute to earnings growth.

The addition of Kensington and its expertise in private equity adds to AGF's existing private credit strategy and alternatives capabilities, expanding its avenues of growth.

About AGF Management Ltd.

Founded in 1957, AGF Management is an independent and globally diverse asset management firm. Its companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth.

AGF brings a disciplined approach focused on incorporating sound, responsible and sustainable corporate practices. The firm's collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisers and their clients, to high-net-worth, and institutional investors, including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

Headquartered in Toronto, Canada, AGF has investment operations and client servicing teams on the ground in North America and Europe. With $45-billion in total assets under management and fee-earning assets, AGF serves more than 800,000 investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.