AGF Mangement Ltd. reported on Thursday positive net sales in its mutual fund business for the second consecutive quarter in its third quarter ended Aug. 31. Institutional and private investment management assets were higher and AGF Trust loan assets continued to grow.

Consolidated revenue from continuing operations rose to $172.6 million compared with $153 million in the third quarter of the prior year. Consolidated net income from continuing operations for the three months ended Aug. 31 was $35.5 million compared with $20.8 million for the same period last year.

Net income for the third quarter rose to $34.6 million, vs $20.3 million in the comparable quarter of 2005. Net income for the three months ended Aug. 31 included a $15.9 million credit to future income taxes related to the Canadian federal income tax rate reduction that was substantially enacted in June 2006.

“Our business is growing,” said Blake Goldring, chairman and chief executive officer, AGF. “Our investment management segment assets under management are up seventeen percent and total assets in AGF Trust are eighty four per cent higher today than they were at the end of the third quarter of last year.”

Total assets under management in the investment management segment rose to $39 billion at the end of the third quarter from $33.3 billion on Aug. 31. The trust company operations segment’s total assets are now $2.3 billion, compared to $1.3 billion last year.

In related news, AGF’s board of directors declared on Wednesday a dividend of 18¢ per share on the corporation’s Class B Non-Voting Shares and on the Class A Common Voting Shares. This dividend will be payable on Oct. 20 to shareholders of record on Oct. 10.