(February 2) – AGF Management Limited has increased its stake in NCL (Securities) Limited to 38.3%, and expects to further increase that ownership stake to approximately 44% by April, 2002.

NCL is an independent U.K.-based high-net-worth firm with approximately C$8.8 billion in assets under management. In 1998, AGF acquired 34 per cent of the London-based firm.

“Increasing our ownership in NCL represents an important building block in AGF’s strategy to grow as a global company with a Canadian home,” says Blake Goldring, president and chief executive officer, AGF Management Ltd. “It also aligns with our commitment to serve investors at all stages of their life.”

AGF’s increased investment in NCL was made to facilitate NCL’s acquisition of investment manager Panmure Gordon Investments Ltd. from Westdeutsche Landesbank Girozentrale.

In 2000, AGF acquired Magna Vista Capital Management Inc., a high-net-worth investment management company to reinforce Canadian-based AGF Private Investment Management.