IGM Financial Inc.
TSX : IGM

IGM Financial Inc.

August 05, 2009 16:06 ET

IGM Financial Inc. Announces July 2009 Mutual Fund Sales and Total Assets Under Management

WINNIPEG, MANITOBA--(Marketwire - Aug. 5, 2009) - IGM Financial Inc. (IGM)(TSX:IGM) today reported preliminary total mutual fund net new money in July of ($126.0) million as shown in Table 1. Total assets under management were $112.3 billion at July 31, 2009, up from $101.7 at December 31, 2008 and compared to $116.8 billion at July 31, 2008. Mutual fund assets under management were $93.9 billion as at July 31, 2009, up from $85.0 billion at December 31, 2008 and compared to $103.1 billion at July 31, 2008. Assets under management are shown in Table 2.

Table 1 - Mutual Funds Net New Money*
(millions) (unaudited)
July 2009
Investors
Group
MackenzieCounsel Group
of Funds
IGM Financial
All Mutual Funds          
 Gross Sales$381.2 $327.3  $34.2 $742.7  
 Net New Money*$4.9 ($143.2) $12.31($126.0)1
Long Term Mutual Funds          
 Gross Sales$315.6 $269.9  $26.0 $611.5  
 Net New Money*$21.0 ($112.2) $7.21($84.0)1

* Mutual Fund Net New Money is defined as Gross Sales less Gross Redemptions and is consistent with the terminology used by The Investment Funds Institute of Canada (IFIC).

1 includes $7.1 million in net new money of Counsel Group of Funds mutual funds invested in other managers' funds.

    
    
Table 2 - Assets under Management
(billions) (unaudited)
July 31, 2009July 31, 2008% Change YOY
Mutual Funds     
 Investors Group$54.16 $58.06 (6.7)
 Mackenzie$37.88 $42.97 (11.8)
 Counsel Group of Funds$1.902$2.092(9.1)
Mutual Fund Assets under Management$93.94 $103.12 (8.9)
Private, institutional, sub-advised
 and other - Mackenzie
$18.373$13.72333.9
Total Assets under Management$112.31 $116.84 (3.9)

2 includes $224 million (2008 - $498 million) of Counsel mutual fund assets invested in other managers' funds.

Preliminary average mutual fund assets under management and average total assets under management for the quarter to date are set out in Table 3.

  
Table 3 - Average Assets under Management 4 (billions) (unaudited)Quarter to Date
Mutual Funds  
 Investors Group$52.29 
 Mackenzie$36.97 
 Counsel Group of Funds$1.84 
Average Mutual Funds Assets under Management$91.10 
Private, institutional, sub-advised
 and other - Mackenzie
$18.213
Total Average Assets under Management$109.31 

3 excludes assets managed by Mackenzie and Investment Planning Counsel on behalf of Investors Group.
4 based on daily average mutual fund assets and month-end average private, institutional, sub-advisory and other assets.

For more information on mutual fund activity, please refer to press releases issued by Investors Group Inc., Mackenzie Investments and Investment Planning Counsel Inc.

Additional information about mutual fund assets and fund flows will be available on the Investment Funds Institute of Canada (IFIC) web site (www.ific.ca) on approximately the 15th of each month as part of a Canadian industry-wide release of monthly statistics.

IGM Financial Inc. is one of Canada's premier personal financial services companies, and one of the country's largest managers and distributors of mutual funds and other managed asset products, with over $112 billion in total assets under management. Its activities are carried out principally through Investors Group, Mackenzie Financial Corporation and Investment Planning Counsel. IGM Financial Inc. is a member of the Power Financial Corporation group of companies.

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