AGF Management Ltd, today announced the completion of the sale of subsidiary Unisen Holdings Inc. to Citifinancial Canada, Inc., a subsidiary of Citigroup, the world’s largest financial services organization, for US$97.5 million.

The sale was originally announced on July 11, 2005. Unisen provides third-party administrative services to the financial industry. Under a 10-year services agreement, Unisen will continue to service AGF and AGF mutual funds.

“This sale generates significant value for AGF shareholders and mutual fund investors, while allowing us to focus on our core investment management business,” said Blake Goldring, president and CEO, AGF, in a release. “With a large partner like Citigroup, we can have access to the best in professional client services and administrative processing as well as benefit from economies of scale.”