Mavrix Fund Management Inc. today reported a slightly increased loss for the third quarter ended September 30.

Net loss for the quarter was $237,000, or 3¢ a share, compared to a net loss of $226,000, or 3¢ a share, for the year ago period.

Revenue for the third quarter totalled $2.75 million compared to $2.49 million a year ago.

Total assets under management and administration (AUM+A) at Sept. 30, 2006 were $800.5 million, down 1% from $809.4 million at Sept. 30, 2005. The year over year decrease is primarily the result of the 21% decline in administrative services assets, as we have moved our focus to our Mavrix Mutual Funds and Speciality Funds.

AUM+A at September 30, 2006 was comprised of $506.1 million of Mavrix Mutual Funds, $145.9 million of Specialty Funds and $148.5 million of Administrative Services.