Investment Planning Counsel Inc.

Investment Planning Counsel Inc.

December 01, 2009 16:39 ET

Investment Planning Counsel Inc. Reports November 2009 Mutual Fund Sales and Assets Under Management

TORONTO, ONTARIO--(Marketwire - Dec. 1, 2009) - 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 November 30, 2009. Mutual fund assets under management were $2.08 billion at November 30, 2009 compared with $1.70 billion at November 30, 2008 and $1.74 billion at December 31, 2008.

 Mutual Fund Sales - Month November 2009November 2008 
 $ millions (unaudited) Sales RedemptionsNet New Money *Net New Money *  
 Long Term             30.5                19.2                     11.3 (12.1
 Money Market               5.2                  1.6                       3.6                        1.4  
 Total             35.7                20.8                     14.9                     (10.7) 
        
        
 Mutual Fund Sales - YTD November 2009November 2008 
 $ millions (unaudited) Sales RedemptionsNet New Money *Net New Money *  
 Long Term           241.3              187.5                     53.8 (85.7
 Money Market             55.7                26.2                     29.5                      14.3  
 Total           297.0              213.7                     83.3                     (71.4) 

* 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 December 2, 2009. 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