AGF Funds Inc. today announced it has received unitholder approval to merge AGF European Asset Allocation Fund into AGF World Balanced Fund. The merger will take effect on or about August 19.

“Merging these two funds will help us increase operating efficiencies for AGF investors and advisors,” said Blake Goldring, president and CEO, AGF Management Limited.

AGF unitholders also approved a change of investment objective for Harmony RSP North American Small Cap Pool, Harmony RSP Overseas Equity Pool and Harmony RSP U.S. Equity pool.

The new structure for the investment pools will take effect on or about June 4. At that time, AGF Funds Inc. will replace PanAgora Asset Management, Inc. as portfolio manager of these three investment pools.

Beginning May 21, 2002, Harmony RSP North American Small Cap Pool will be re-named Harmony RSP Americas Small Cap Equity Pool and Harmony U.S. Active Equity Pool will be re-named Harmony U.S. Equity Pool.