AGF Funds Inc. today announced the appointment of AGF International Advisors Company Ltd. (AGFIA) as the portfolio advisor to its Canadian value funds.

Effective today, AGFIA is the portfolio advisor for AGF Canadian Value Fund and AGF Canadian Balanced Value Fund, previously called AGF Canadian Real Value Fund and AGF Canadian Real Value Balanced Fund.

AGFIA veteran John Arnold, supported by Niall Dineen and Richard McGrath, will advise on these Canadian value funds. AGF Funds Inc. remains portfolio manager for both Canadian value funds.

“This is a significant move for AGF and reinforces our commitment to building a world-class team and consistency in the investment management processes we use,” says Randy Ambrosie, president of AGF Funds Inc. “We are excited about the potential that this appointment creates for investors in our Canadian value funds by having the AGFIA team apply the same process it has used successfully on other funds to identify the best value opportunities in Canada.”

Using its proven value investment process, AGFIA seeks out quality franchises that are currently out of favour, backs the findings with rigorous due diligence and then patiently holds those stocks until they realize value.

AGF established the Dublin-based AGFIA in 1991. In 2006, AGF named AGFIA as portfolio advisor to its international value funds.

AGF’s Canadian value funds had been previously managed by Keith Graham, who has decided to leave the firm.