IGM Financial Inc.
TSX : IGM

IGM Financial Inc.

May 02, 2017 14:05 ET

IGM Financial Inc. Announces April 2017 Investment Fund Sales and Total Assets Under Management

WINNIPEG, MANITOBA--(Marketwired - May 2, 2017) - IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total investment fund net new money in April of $168.8 million as shown in Table 1. Total assets under management were $149.7 billion at April 30, 2017, compared with $147.1 billion at March 31, 2017 and $132.8 billion at April 30, 2016. Investment fund assets under management were $144.3 billion at April 30, 2017, compared with $141.7 billion at March 31, 2017 and $127.0 billion at April 30, 2016. Assets under management are shown in Table 2.

Table 1 - Net New Money
Month ended April 30, 2017
($ millions) (unaudited)
Investors Group Mackenzie Counsel IGM Financial
Mutual Funds
Gross Sales $686.2 $609.1 $51.5 $1,346.8
Net New Money $71.9 $89.3 ($15.9 ) $145.3
ETFs
Net New Money $206.5 $206.5
Consolidated
Net New Money $71.9 $112.81 ($15.9 ) $168.8
1 Excludes $183.0 million in Exchange traded fund ("ETF") net new money related to Mackenzie Mutual funds.
* Mutual Fund Net New Money is defined as Gross Sales less Gross Redemptions and is consistent with the terminology used by The Investment Funds Institute of Canada (IFIC). Total Net New Money includes ETF net creations.
Table 2 - Assets under Management
($ billions) (unaudited) April
2017
March
2017
April
2016
% Change
Last Month
% Change
YOY
Total Assets under Management2 $149.69 $147.06 $132.84 1.8 12.7
Investment Funds
Assets under Management
$144.29 $141.65 $127.03 1.9 13.6
Investors Group
Mutual Funds $85.27 $83.90 $75.23 1.6 13.3
Sub-advisory, institutional and other $0.57 $0.54 $0.43 5.6 32.6
Total IG $85.84 $84.44 $75.66 1.7 13.5
Mackenzie
Mutual Funds $54.07 $52.94 $47.55 2.1 13.7
ETFs $0.45 $0.23 $0.03 95.7 N/M
Investment Funds3 $54.26 $53.10 $47.58 2.2 14.0
Sub-advisory, institutional and other $13.35 $13.21 $12.66 1.1 5.5
Total Mackenzie $67.61 $66.31 $60.24 2.0 12.2
Counsel
Mutual Funds $4.76 $4.65 $4.22 2.4 12.8
2 Excludes assets managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel. These assets had a value of $8.5 billion at April 30, 2017 ($8.3 billion at March 31, 2017 and $7.3 billion at April 30, 2016).
3 Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETFs of $256.2 million as at April 30, 2017 and $69.2 million as at March 31, 2017.

Preliminary average investment 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 Management4
($ billions) (unaudited) Quarter to Date
Total Average Assets under Management5 $148.01
Investment Funds Average Assets under Management $142.60
Investors Group
Mutual Funds $84.48
Sub-advisory, institutional and other $0.56
Total Investors Group $85.04
Mackenzie
Mutual Funds $53.26
ETFs $0.28
Investment Funds6 $53.43
Sub-advisory, institutional and other $13.28
Total Mackenzie $66.71
Counsel
Mutual Funds $4.69
4 Based on daily average investment fund assets and month-end average institutional, sub-advisory and other assets.
5 Excludes average assets of $8.4 billion managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel.
6 Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETFs of $103.6 million as at April 30, 2017.

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 approximately $150 billion in total assets under management. Its activities are carried out principally through Investors Group, Mackenzie Investments and Investment Planning Counsel.

A MEMBER OF THE POWER FINANCIAL CORPORATION GROUP OF COMPANIES.

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