Investment Planning Counsel Inc.

Investment Planning Counsel Inc.

March 01, 2010 16:57 ET

Investment Planning Counsel Inc. Reports February 2010 Mutual Fund Sales and Assets Under Management

TORONTO, ONTARIO--(Marketwire - March 1, 2010) - Counsel Portfolio Services Inc., a division of Investment Planning Counsel Inc., today reported preliminary mutual fund sales and assets under management for the month ending February 28, 2010. Mutual fund assets under management were $2.17 billion at February 28, 2010 compared with $1.61 billion at February 28, 2009 and $2.14 at December 31, 2009.

Mutual Fund Sales - Month February 2010 February 2009
$ millions (unaudited) Sales Redemptions Net New Money * Net New Money *
Long Term             39.9                20.7                     19.2                        1.1
Money Market               4.9                  1.5                       3.4                        3.9
Total             44.8                22.2                     22.6                        5.0
         
Mutual Fund Sales - YTD February 2010 February 2009
$ millions (unaudited) Sales Redemptions Net New Money * Net New Money *
Long Term             71.3                40.5                     30.8                       (0.2)
Money Market               8.0                  3.7                       4.3                        6.9
Total             79.3                44.2                     35.1                        6.7
* Net New Money is defined as Sales less Redemptions and is consistent with the terminology used by The Investment Funds Institute of Canada (IFIC).

For additional information about Counsel Portfolio Services Inc. average assets under management, please see the IGM Financial press release which will be available on March 2, 2010. Additional information about Counsel's 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.

Investment Planning Counsel is an integrated wealth management company focused on providing Canadians with financial products, services and advice to help them achieve their financial dreams. Investment Planning Counsel has developed a strategy that marries the needs of the planners with that of the company. Investment Planning Counsel's intent is to be the premier choice among financial planners who are dedicated to serving the needs of their clients. Investment Planning Counsel is a member of the IGM Financial Inc. (TSX:IGM) group of companies.

Contact Information

  • Investment Planning Counsel
    Steve Meehan
    Chief Executive Officer
    (905) 212-9799
    (905) 212-9675 (FAX)
    smeehan@ipcfn.com