Mutual fund manager Mavrix Fund Management Inc. today reported a net loss of $400,000, or 5¢ per share, for the third quarter ended September 30.

For the nine month period, the net loss was $1.3 million, 19¢ per share.

Comparative results are unavailable, as this quarter represents Mavrix’s third quarterly report prepared as a public company.

Total assets under management at quarter end totaled $368 million, up from $327.8 million at the end of June.

During the first nine months of 2004, Total assets under management and administration grew from $345.3 million as at December 31, 2003 to $532.4 million at September 30, 2004, or 54% growth.

Total revenues for the nine months ended September 30 were $4.3 million.
http://www.newswire.ca/en/releases/archive/November2004/08/c9955.html