TORONTO, ONTARIO--(Marketwired - Sep 26, 2013) - Matrix Asset Management Inc. (the "Company" or "Matrix") (MTA.TO) announced that David Balsdon has resigned from the Company's Board of Directors in connection with Matrix concluding the mutual funds asset sale previously announced on September 17, 2013.

Mr. Balsdon has over 20 years of experience in the investment industry and served as a director of the board since May 2012.

Prior to Matrix concluding the mutual funds asset sale, Mr. Balsdon was the Chief Operating Officer of the Company. Matrix and the Board of Directors would like to sincerely thank Mr. Balsdon for the strong contribution he has made to Matrix and wish him all the best for the future.