IGM Financial Inc.
TSX : IGM

IGM Financial Inc.

July 03, 2015 13:59 ET

IGM Financial Inc. Announces June 2015 Mutual Fund Sales and Total Assets Under Management

WINNIPEG, MANITOBA--(Marketwired - July 3, 2015) - IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total mutual fund net new money in June of $66.3 million as shown in Table 1. Total assets under management were $136.0 billion at June 30, 2015, compared with $148.5 billion at May 31, 2015 and $141.4 billion at June 30, 2014. Mutual fund assets under management were $129.7 billion as at June 30, 2015, compared with $131.6 billion at May 31, 2015 and $125.2 billion at June 30, 2014. Assets under management are shown in Table 2.

Table 1 - Mutual Funds Net New Money*
Month ended June 30, 2015
($ millions) (unaudited)
Investors Group Mackenzie Counsel IGM Financial1
All Mutual Funds
Gross Sales $670.9 $594.0 $56.9 $1,321.0
Net New Money $74.2 ($20.0 ) $12.3 $66.3
Long Term Mutual Funds
Gross Sales $579.6 $554.8 $51.9 $1,185.5
Net New Money $37.5 ($36.0 ) $8.0 $9.3

*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).

(1) Total Mutual Fund Gross Sales and Net New Money for the month ended June 30, 2015 excluded $0.8 million and $0.2 million respectively in accounts invested in Mackenzie Financial Corporation funds held by Investment Planning Counsel.
Table 2 - Assets under Management2
($ billions) (unaudited)
June
2015
May
2015
June
2014
% Change
Last Month
% Change
YOY
Total Assets under Management $135.95 $148.52 $141.43 (8.5 ) (3.9 )
Mutual Fund Assets under Management $129.67 $131.57 $125.19 (1.4 ) 3.6
Investors Group
Mutual Funds $75.83 $76.81 $72.40 (1.3 ) 4.7
Mackenzie
Mutual Funds $49.85 $50.71 $49.11 (1.7 ) 1.5
Sub-advisory, institutional and other2,3 $13.17 $23.91 $21.97 (44.9 ) (40.1 )
Total Mackenzie $63.02 $74.62 $71.08 (15.5 ) (11.3 )
Counsel
Mutual Funds $4.05 $4.11 $3.73 (1.5 ) 8.6
(2) Excludes assets managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel. These assets have a value of $6.9 billion at June 30, 2015 ($7.0 billion at May 31, 2015 and $5.8 billion at June 30, 2014).
(3) MD Financial Management ("MD") re-assigned sub-advisory responsibilities on four fixed income mandates (totaling $10.3 billion) advised upon by Mackenzie. The pro forma impact on Mackenzie's pre-tax earnings from these mandate changes is not meaningful. Following the changes, Mackenzie continues to advise MD on a number of fixed income, balanced and equity mandates.

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 Management4
($ billions) (unaudited) Quarter to Date
Total Average Assets under Management5 $145.64
Mutual Fund Average Assets under Management5 $131.39
Investors Group
Mutual Funds $76.78
Mackenzie
Mutual Funds $50.58
Sub-advisory, institutional and other $21.12
Total Mackenzie $71.70
Counsel
Mutual Funds $4.09
(4) Based on daily average mutual fund assets and month-end average institutional, sub-advisory and other assets.
(5) Excludes average assets of $6.9 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 $136 billion in total assets under management. Its activities are carried out principally through Investors Group through a network of over 5,100 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. IGM Financial Inc. is a member of the Power Financial Corporation group of companies.

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