IGM Financial Inc.
TSX : IGM

IGM Financial Inc.

March 02, 2016 13:08 ET

IGM Financial Inc. Announces February 2016 Mutual Fund Sales and Total Assets Under Management

WINNIPEG, MANITOBA--(Marketwired - March 2, 2016) - IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total mutual fund net new money in February of $423.1 million as shown in Table 1. Total assets under management were $129.0 billion at February 29, 2016, compared with $131.0 billion at January 31, 2016 and $149.3 billion at February 28, 2015. Mutual fund assets under management were $123.1 billion as at February 29, 2016, compared with $124.9 billion at January 31, 2016 and $132.5 billion at February 28, 2015. Assets under management are shown in Table 2.

Table 1 - Mutual Funds Net New Money*
Month ended February 29, 2016
($ millions) (unaudited)
Investors Group Mackenzie Counsel IGM Financial
All Mutual Funds
Gross Sales $ 956.0 $ 697.0 $ 104.4 $ 1,757.4
Net New Money $ 358.4 $ 17.1 $ 47.6 $ 423.1
Long Term Mutual Funds
Gross Sales $ 844.8 $ 659.0 $ 98.0 $ 1,601.8
Net New Money $ 307.6 $ 0.5 $ 42.3 $ 350.4

* 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).

Table 2 - Assets under Management
($ billions) (unaudited)
February
2016
January
2016
February
2015
% Change Last Month % Change YOY
Total Assets under Management1 $ 129.01 $ 131.01 $ 149.26 (1.5 ) (13.6 )
Mutual Fund Assets under Management $ 123.14 $ 124.93 $ 132.48 (1.4 ) (7.1 )
Investors Group
Mutual Funds $ 72.92 $ 73.90 $ 76.91 (1.3 ) (5.2 )
Mackenzie
Mutual Funds $ 46.14 $ 46.93 $ 51.50 (1.7 ) (10.4 )
Sub-advisory, institutional and other $ 12.81 $ 13.06 $ 23.53 (1.9 ) (45.6 )
Total Mackenzie $ 58.95 $ 59.99 $ 75.03 (1.8 ) (21.4 )
Counsel
Mutual Funds $ 4.09 $ 4.10 $ 4.13 (0.2 ) (1.0 )
1 Excludes assets managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel. These assets have a value of $6.9 billion at February 29, 2016 ($7.0 billion at January 31, 2016 and $6.8 billion at February 28, 2015).

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 Management2
($ billions) (unaudited) Quarter to Date
Total Average Assets under Management3 $ 129.39
Mutual Fund Average Assets under Management $ 123.37
Investors Group
Mutual Funds $ 72.91
Mackenzie
Mutual Funds $ 46.39
Sub-advisory, institutional and other $ 13.02
Total Mackenzie $ 59.41
Counsel
Mutual Funds $ 4.07
2 Based on daily average mutual fund assets and month-end average institutional, sub-advisory and other assets.
3 Excludes average assets of $7.0 billion managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel.

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 $129 billion in total assets under management. Its activities are carried out principally through Investors Group through a network of approximately 5,300 Consultants, Mackenzie Financial Corporation through a diversified network of third-party financial advisors and Investment Planning Counsel through a network of financial planners who are dedicated to serving the needs of their clients.

MEMBER OF THE POWER FINANCIAL CORPORATION GROUP OF COMPANIES.

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