IGM Financial Inc.
TSX : IGM

IGM Financial Inc.

December 02, 2009 14:19 ET

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

WINNIPEG, MANITOBA--(Marketwire - Dec. 2, 2009) - IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total mutual fund net new money in November of ($22.4) million as shown in Table 1. Total assets under management were $118.4 billion at November 30, 2009, up from $101.7 billion at December 31, 2008 and compared to $102.2 billion at November 30, 2008. Mutual fund assets under management were $98.5 billion as at November 30, 2009, up from $85.0 billion at December 31, 2008 and compared to $85.3 billion at November 30, 2008. Assets under management are shown in Table 2.



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Table 1 - Mutual Funds November 2009
Net New Money (i) ----------------------------------------------------
(millions) (unaudited) Counsel
Investors Portfolio IGM
Group Mackenzie Services Financial
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All Mutual Funds
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Gross Sales $473.4 $458.4 $35.7 $967.5
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Net New Money (i) $84.7 ($122.0) $14.9(ii) ($22.4)(ii)
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Long Term Mutual Funds
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Gross Sales $419.3 $396.1 $30.5 $845.9
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Net New Money (i) $93.8 ($72.5) $11.3(ii) $32.6(ii)
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(i) 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).

During November 2009, The Canadian Shield Fund, offered by Mackenzie,
completed its initial public offering of 12 million combined units for
gross proceeds of $120 million. The Fund is a closed end investment
trust and has not been included in the above mutual fund results.

(ii) includes $13.10 million in net new money of Counsel Portfolio Services
mutual funds invested in other managers' funds.



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Table 2 - Assets under Management November 30, November 30, % Change
(billions) (unaudited) 2009 2008 YOY
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Mutual Funds
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Investors Group $56.52 $48.18 17.3
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Mackenzie $39.93 $35.45 12.6
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Counsel Portfolio Services $2.08(iii) $1.70(iii) 22.4
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Mutual Fund Assets under
Management $98.53 $85.33 15.5
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Private, institutional,
sub-advised and other -
Mackenzie $19.88(iv) $16.91(iv) 17.6
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Total Assets under Management $118.41 $102.24 15.8
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(iii) includes $276 million (2008 - $414 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.



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Table 3 - Average Assets under Management (v)
(billions) (unaudited) Quarter to Date
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Mutual Funds
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Investors Group $56.30
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Mackenzie $39.86
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Counsel Portfolio Services $2.05
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Average Mutual Funds Assets under Management $98.21
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Private, institutional, sub-advised
and other - Mackenzie $19.59(v)
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Total Average Assets under Management $117.80
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(iv) excludes assets managed by Mackenzie and Investment Planning Counsel on
behalf of Investors Group.
(v) 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 $118 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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