IGM Financial Inc.
TSX : IGM

IGM Financial Inc.

June 02, 2015 15:59 ET

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

WINNIPEG, MANITOBA--(Marketwired - June 2, 2015) - IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total mutual fund net new money in May of $11.0 million as shown in Table 1. Total assets under management were $148.5 billion at May 31, 2015, compared with $147.6 billion at April 30, 2015 and $138.9 billion at May 31, 2014. Mutual fund assets under management were $131.6 billion as at May 31, 2015, compared with $130.7 billion at April 30, 2015 and $123.8 billion at May 31, 2014. Assets under management are shown in Table 2.

Table 1 - Mutual Funds Net New Money*
Month ended May 31, 2015 ($ millions) (unaudited)
Investors Group Mackenzie Counsel IGM Financial1
All Mutual Funds
Gross Sales $ 598.7 $ 731.3 $ 53.4 $ 1,382.1
Net New Money ($ 7.9 ) $ 9.7 2 $ 9.1 $ 11.0
Long Term Mutual Funds
Gross Sales $ 519.3 $ 694.0 $ 48.5 $ 1,260.5
Net New Money ($ 19.4 ) ($ 1.5 )2 $ 5.3 ($ 15.5 )

*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).

1Total Mutual Fund Gross Sales and Net New Money for the month ended May 31, 2015 excluded $1.3 million and ($0.1) million respectively in accounts invested in Mackenzie Financial Corporation funds held by Investment Planning Counsel.

2During May 2015, there was a mutual fund rebalance by an institutional client which resulted in gross sales of $138 million, redemptions of $150 million and net redemptions of $12 million.

Table 2 - Assets under
Management3
($ billions) (unaudited)
May
2015
Apr
2015
May
2014
% Change
Last
Month
% Change
YOY
Total Assets under Management $ 148.52 $ 147.62 $ 138.87 0.6 6.9
Mutual Fund Assets under Management $ 131.57 $ 130.74 $ 123.75 0.6 6.3
Investors Group
Mutual Funds $ 76.81 $ 76.56 $ 71.59 0.3 7.3
Mackenzie
Mutual Funds $ 50.71 $ 50.17 $ 48.54 1.1 4.5
Sub-advisory, institutional and other3 $ 23.91 $ 23.74 $ 20.71 0.7 15.5
Total Mackenzie $ 74.62 $ 73.91 $ 69.25 1.0 7.8
Counsel
Mutual Funds $ 4.11 $ 4.07 $ 3.66 1.0 12.3

3Excludes assets managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel. These assets have a value of $7.0 billion at May 31, 2015 ($6.9 billion at April 30, 2015 and $5.6 billion at May 31, 2014).

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 $ 148.67
Mutual Fund Average Assets under Management5 $ 131.76
Investors Group
Mutual Funds $ 76.96
Mackenzie
Mutual Funds $ 50.76
Sub-advisory, institutional and other $ 23.77
Total Mackenzie $ 74.53
Counsel
Mutual Funds $ 4.11

4Based on daily average mutual fund assets and month-end average institutional, sub-advisory and other assets.

5Excludes 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 over $148 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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