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Analysis: This fund is the product of a number of mergers. It was originally the AGF Canadian Growth Fund, and the Canadian Equity Fund merged into it in 1998. Then in 2001, the Global Strategy Growth & Income Fund and the Global Strategy Canadian Companies Fund were folded into it as well. Consequently, manager Martin Hubbes has had to juggle a variety of portfolios along the way. He’s done a fine job of it, piloting the fund to above-average results over the 11 years he has been at the helm. The average annual compound rate of return for the decade to June 30/07 was a very good 10.9%, more than two percentage points better than the category average (8.6%). Any manager who can do better than 10% a year over that length of time and beat the benchmark index in the process (S&P/TSX Total Return) deserves full marks. Shorter-term results are also good. Like most of the managers in the AGF stable, Hubbes is a bottom-up stock picker. The focus of this fund is on medium to large-size companies, with lots of banks and big oil stocks. Foreign content has increased to 21.5%. This is a well-managed fund and a solid choice for AGF investors. Rating is maintained at $$$$.