YMG Capital Management Inc. suffered weaker results in 2001.

The firm reported a net loss from continuing operations of $1,049,000 in the fourth quarter, compared to a net loss of $299,000 for the same quarter of 2000.

For the year, it reported a net loss from continuing operations of $6,041,000 compared to net income from continuing operations of $2,466,000 for the year 2000. On, YMG completed the sale of its mutual fund operations
to Mavrix Funds Management, on Aug. 21, 2001.

Assets under management, excluding asset’s relating to YMG’s discontinued mutual fund operations, increased to $14.1 from $14 billion at December 31, 2000.

In 2002, YMG plans to focus on its core businesses and continue the cost reduction initiatives commenced in the second half of 2001. The corporation expects that these efforts will contribute to significantly improved operating margins in 2002.

YMG also declared a quarterly dividend of 5¢ per share.

YMG provides investment counselling to pension funds, financial institutions, foundations and high net worth individuals.