AGF Investments Inc. Tuesday announced plans to streamline its product lineup and make changes to its portfolio management teams.

Peter Frost has been named senior vice president and portfolio manager. Frost joined AGF in 2010 and currently manages three Canadian balanced and equity mandates, with combined assets of over $2.7 billion. Under his leadership, these funds have delivered consistent income and capital growth to investors. Both the AGF Monthly High Income Fund and AGF Traditional Income Fund have outperformed their benchmarks over one-, two- and three-year periods.

Brian Madden has been promoted to vice president and portfolio manager. Madden joined AGF in 2010 and is co-manager along with Michael White, vice president and portfolio manager, in the management of AGF Canadian Asset Allocation Fund. This $750 million fund has posted first-quartile performance over the six-month and one-year period.

Also Tuesday, AGF announced a number of portfolio manager changes, which take effect immediately.

AGF Investments Inc. has been named portfolio manager of AGF All Cap 30 Canadian Equity Fund, AGF Conservative Asset Allocation Fund, AGF High Income Fund, AGF Social Values Balanced Fund, AGF Social Values Equity Fund, Acuity Pooled Canadian Balanced Fund, Acuity Pooled Conservative Asset Allocation Fund and Acuity Pooled High Income Fund.

Highstreet Asset Management Inc., a wholly owned subsidiary of AGF Management Limited with a long track record of managing small cap mandates, has been named portfolio manager of AGF Canadian Small Cap Discovery Fund and Acuity Pooled Canadian Small Cap Fund.

AGF Investments Inc. and Highstreet Asset Management Inc. are assuming portfolio management of these mandates formerly managed by Acuity Investment Management Inc.

As a result of these changes, Hugh McCauley, Warren Fenton and David Pirie will be departing the firm. All three joined AGF through the acquisition of Acuity in 2011 and have been integral in the integration of the two companies.

Fund mergers

As part of an ongoing review of its product offering, AGF is proposing several fund mergers, which are expected to occur in or about May 2014:

> AGF High Income Fund to be merged into AGF Monthly High Income Fund;
> AGF High Income Class to be merged into AGF Diversified Income Class;
> AGF Conservative Asset Allocation Fund to be merged into AGF Canadian Asset Allocation Fund;
> AGF All Cap 30 Canadian Equity Fund to be merged into AGF Canadian Stock Fund;
>AGF Social Values Equity Fund to be merged into AGF Global Equity Fund; and
> AGF Social Values Balanced Fund to be merged into AGF Traditional Income Fund.

All costs and expenses associated with the mergers will be borne by AGF. More detailed information will be sent to investors in early 2014.

AGF will also terminate Acuity Pooled Corporate Bond Fund on December 9. Affected investors will be advised of their options by letter prior to the termination.

AGF Investments in a subsidiary of investment management firm AGF Management Ltd. (TSX:AGF.B), which has approximately $37 billion in total assets under management.