AGF Funds Inc. today announced that it has made a decision to end its sub-advisory relationship with ING Investment Management Inc. and that effective immediately AGF chief investment officer Martin Hubbes is taking over the management of the AGF Dividend Income Fund.

Marc-Andre Robitaille, the former fund manager, has provided ING with notice of his resignation and has agreed to join forces with AGF Funds Inc. in a strategic alliance. AGF has a long-term commitment with Robitaille and will be taking steps in the weeks ahead so that he can resume management of the fund.

“AGF was pleased with Mr. Robitaille’s leadership and approached him about the opportunity to enter into an alliance with us. We are excited that Mr. Robitaille has agreed to join forces with us and will complement our team of world class fund managers,” said AGF Funds Inc. President Randy Ambrosie.

“AGF is firmly committed to consistent management of its funds for the long-term and we are well prepared to ensure a smooth transition from ING to AGF,” stressed Ambrosie. “The fund will be effectively managed by one of our most senior investment managers and this alliance with Mr. Robitaille will add another skilled manager to our line-up of investment managers. AGF is proud to attract and retain great fund managers and believes that this alliance with Mr. Robitaille will strengthen our team even further.”

Hubbes, who also serves as executive vp has a long history with AGF that dates back to 1992. He was named chief investment officer in 2005 and is the lead manager of the AGF Canadian Stock Fund and AGF Canada Class, as well as co-manager of AGF Global Health Sciences Class.