AGF Announces Risk Rating, Fund Name and Proposed Investment Objective Changes

AGF Investments Inc. (AGF) today announced risk rating changes for certain AGF funds, as well as certain fund name changes, and a proposed investment objective change for AGF Strategic Income Fund.

Risk Rating Changes

AGF is changing the risk ratings for the following funds effective today. The changes are based on the risk classification methodology mandated by the Canadian Securities Administrators to determine the risk level of mutual funds. No material changes have been made to the investment objectives, strategies or management of these funds.

Fund Name	Previous Risk Rating	Revised Risk Rating
AGF Canadian Dividend Income Fund	Low to Medium	Medium
AGF North American Dividend Income Class	Low to Medium	Medium
AGF North American Dividend Income Fund	Low to Medium	Medium
AGF China Focus Class	Medium to High	High
AGF Global Equity Class	Low to Medium	Medium
AGF Global Equity Fund	Low to Medium	Medium
AGF Elements Conservative Portfolio	Low	Low to Medium
AGF Elements Conservative Portfolio Class	Low	Low to Medium

AGF Elements Yield Portfolio/Class Renamed to AGF Global Yield Fund/Class

Also effective today, AGF Elements Yield Portfolio has been renamed AGF Global Yield Fund and AGF Elements Yield Class has been renamed AGF Global Yield Class. These name changes are being made to better reflect the funds position as yield-oriented, monthly income paying offerings. AGF Global Yield Fund/Class can be used as a core holding to complement existing portfolios to manage volatility or enhance income.

Proposed Investment Objective Change – AGF Strategic Income Fund

Subject to securityholder approval, AGF is proposing to change the investment objective of AGF Strategic Income Fund.

At the special meeting of securityholders to be held on June 15, 2023, subject to extension or adjournment thereof, securityholders of each of AGF Strategic Income Fund will be asked to approve the following proposed changes in the investment objective of the fund:

Fund	Current Investment Objective	Proposed Investment Objective
AGF Strategic Income Fund	The Fund’s objective is to provide high long-term total investment returns with moderate risk through a combination of long-term capital growth and current income. It invests primarily in a mix of common and preferred shares of Canadian companies, Canadian federal and provincial bonds, high-quality corporate bonds and money market instruments.	The Fund’s objective is to provide long-term capital growth and income with moderate risk. The Fund uses an asset allocation approach. It invests primarily in a diversified mix of funds and ETFs that provide exposure to global equity and fixed-income securities.

If approved, the proposed investment objective is expected to be implemented on or about June 30, 2023. Notwithstanding the receipt of securityholder approval, AGF may postpone implementing the investment objective change for the fund until a later date or may elect not to proceed with the change at all, if it considers such decision to be in the best interests of the securityholders of the fund.

If approved, upon adoption of the proposed investment objective change, additional changes are expected to be made to AGF Strategic Income Fund, including the following:

• Name Change: AGF Strategic Income Fund will change its name to AGF Global Strategic Income Fund.
• Strategy Changes: The investment strategies of the AGF Strategic Income Fund will be amended.

Additional information regarding the proposed change in investment objective, including a discussion of certain Canadian federal income tax considerations, will be provided in the fund’s management information circular. In advance of the special meeting, a notice-and-access document will be mailed to securityholders of record as at April 24, 2023. The notice-and-access document will describe the various ways in which securityholders can obtain a copy of the management information circular.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm delivering excellence in investing in the public and private markets through its three distinct business lines: AGF Investments, AGF Private Capital and AGF Private Wealth.

AGF brings a disciplined approach focused on providing an exceptional client experience and incorporating sound responsible and sustainable practices. The firm’s investment solutions, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors 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 $42 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.

Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual fund securities are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer. There can be no assurances the fund will be able to obtain its net asset value at a constant amount or that the full amount of your investment in the fund will be returned to you.

Media Contact

Amanda MarchmentDirector, Corporate [e-mail]