IGM Financial Inc.
TSX : IGM

IGM Financial Inc.

July 05, 2017 16:19 ET

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

WINNIPEG, MANITOBA--(Marketwired - July 5, 2017) - IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total investment fund net new money in June of $450.2 million as shown in Table 1. Total assets under management were $148.2 billion at June 30, 2017, compared with $149.8 billion at May 31, 2017 and $135.1 billion at June 30, 2016. Investment fund assets under management were $142.9 billion at June 30, 2017, compared with $144.3 billion at May 31, 2017 and $128.8 billion at June 30, 2016. Assets under management are shown in Table 2.

Table 1 - Net New Money
Month ended June 30, 2017
($ millions) (unaudited)
Investors
Group
Mackenzie Counsel IGM
Financial
1
Mutual Funds
Gross Sales $804.7 $805.8 $63.7 $1,672.0
Net New Money $167.6 $185.9 $1.8 $355.6
ETFs
Net New Money $119.4 $119.4
Consolidated
Net New Money $167.6 $280.52 $1.8 $450.2
1 Excludes $2.2 million and ($0.3) million respectively in Gross Sales and Net New Money of Mackenzie mutual funds by Investors Group mutual funds.
2 Excludes $24.8 million in net new money of exchange traded funds ("ETF") by 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) June
2017
May
2017
June
2016
% Change
Last Month
% Change
YOY
Total Assets under Management3 $148.20 $149.79 $135.12 (1.1 ) 9.7
Investment Funds4 Assets under Management $142.85 $144.33 $128.77 (1.0 ) 10.9
Investors Group
Mutual Funds $ 84.30 $85.09 $76.20 (0.9 ) 10.6
Sub-advisory, institutional and other $0.57 $0.58 $0.44 (1.7 ) 29.5
Total IG $84.87 $85.67 $76.64 (0.9 ) 10.7
Mackenzie
Mutual Funds $53.62 $54.31 $48.21 (1.3 ) 11.2
ETFs $0.62 $0.51 $0.05 21.6 N/M
Investment Funds5 $53.96 $54.56 $48.26 (1.1 ) 11.8
Sub-advisory, institutional and other $14.59 $13.44 $13.41 8.6 8.8
Total Mackenzie $68.55 $68.00 $61.67 0.8 11.2
Counsel
Mutual Funds $4.69 $4.78 $4.32 (1.9 ) 8.6
3 Excludes assets managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel. These assets had a value of $9.8 billion at June 30, 2017 ($8.6 billion at May 31, 2017 and $7.5 billion at June 30, 2016).
4 Excludes assets in accounts invested in Mackenzie Financial Corporation mutual funds held by Investors Group. These assets had a value of $105.0 million at June 30, 2017 ($106.5 million at May 31, 2017).
5 Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETF's of $281.6 million as at June 30, 2017 and $261.2 million as at May 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 Management6
($ billions) (unaudited) Quarter to Date
Total Average Assets under Management7 $149.27
Investment Funds Average Assets under Management8 $143.87
Investors Group
Mutual Funds $85.02
Sub-advisory, institutional and other $0.56
Total Investors Group $85.58
Mackenzie
Mutual Funds $53.93
ETFs $0.44
Investment Funds9 $54.16
Sub-advisory, institutional and other $13.60
Total Mackenzie $67.76
Counsel
Mutual Funds $4.75
6 Based on daily average investment fund assets and month-end average institutional, sub-advisory and other assets.
7 Excludes average assets of $8.8 billion managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel.
8 Excludes average assets of $55.1 million in accounts invested in Mackenzie Financial Corporation mutual funds held by Investors Group.
9 Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETFs of $209.8 million as at June 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 over $148 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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