IGM Financial Inc.
TSX : IGM

IGM Financial Inc.

November 02, 2017 17:23 ET

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

WINNIPEG, MANITOBA--(Marketwired - Nov. 2, 2017) - IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total investment fund net new money in October of $324.2 million as shown in Table 1. Total assets under management were $154.4 billion at October 31, 2017, compared with $150.0 billion at September 30, 2017 and $140.8 billion at October 31, 2016. Investment fund assets under management were $148.3 billion at October 31, 2017, compared with $144.1 billion at September 30, 2017 and $133.7 billion at October 31, 2016. Assets under management are shown in Table 2.

Table 1 - Net New Money
Month ended October 31, 2017
($ millions) (unaudited)
Investors Group Mackenzie Counsel IGM Financial1
Mutual Funds
Gross Sales $727.9 $775.0 $89.1 $1,592.0
Net New Money $118.1 $55.7 $37.4 $211.2
ETFs
Net New Money $175.0 $121.9
Consolidated
Net New Money $118.1 $221.82 $37.4 $324.2
1 Excludes $53.1 million in net new money of exchange traded funds ("ETF") by Investor Group's mutual fund investment in Mackenzie ETF's.
2 Excludes $8.9 million in net new money of ETF's by Mackenzie mutual funds.
* Mutual Fund Net New Money is defined as Gross Sales less Gross Redemptions and is consistent with the terminology used by The Investment Funds Institute of Canada (IFIC). Total Net New Money includes ETF net creations.
Table 2 - Assets under Management
($ billions) (unaudited) October
2017
September
2017
October
2016
% Change Last Month % Change YOY
Total Assets under Management3 $154.43 $150.02 $140.77 2.9 9.7
Investment Funds4
Assets under Management
$148.33 $144.12 $133.71 2.9 10.9
Investors Group
Mutual Funds $87.55 $85.23 $79.02 2.7 10.8
Sub-advisory, institutional and other $0.60 $0.54 $0.48 11.1 25.0
Total Investors Group $88.15 $85.77 $79.50 2.8 10.9
Mackenzie
Mutual Funds $55.36 $53.75 $50.14 3.0 10.4
ETFs $1.10 $0.91 $0.08 20.9 N/M
Investment Funds5 $56.12 $54.32 $50.22 3.3 11.7
Sub-advisory, institutional and other6 $37.41 $14.92 $13.98 150.8 167.6
Total Mackenzie $93.53 $69.24 $64.20 35.1 45.7
Investment Planning Counsel7
Mutual Funds $4.83 $4.68 $4.47 3.2 8.1
Sub-advisory, institutional and other $1.17 $1.10 $0.89 6.4 31.5
Total Investment Planning Counsel7 $5.36 $5.18 $4.85 3.5 10.5
3 Excludes assets managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel. These assets had a value of $32.4 billion at October 31, 2017 ($10.2 billion at September 30, 2017 and $7.8 billion at October 31, 2016).
4 Excludes assets in accounts invested in Mackenzie Financial Corporation mutual funds held by Investors Group. These assets had a value of $112.5 million at October 31, 2017 ($108.8 million at September 30, 2017).
Excludes assets in accounts invested in Mackenzie Financial Corporation ETF's held by Investors Group. These assets had a value of $53.4 million at October 31, 2017
5 Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETF's of $348.3 million as at October 31, 2017 ($332.9 million as at September 30, 2017).
6 In October 2017, investment management functions of Investors Group and Mackenzie Investments joined together to form a single global investment management organization resulting in an increase of approximately $22 billion in Mackenzie's sub-advisory assets under management.
7 IPC's sub-advisory, institutional and other is comprised of the IPC Private Wealth Program. IPC's total assets under management excludes the Private Wealth Program investment in Counsel mutual funds of $0.64 billion as at October 31, 2017 ($0.60 billion at September 30, 2017 and $0.51 billion at October 31, 2016).

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 Management8
($ billions) (unaudited) Quarter to Date
Total Average Assets under Management9 $151.53
Investment Funds Average Assets under Management10 $145.53
Investors Group
Mutual Funds $86.16
Sub-advisory, institutional and other $0.58
Total Investors Group $86.74
Mackenzie
Mutual Funds $54.10
ETFs $1.01
Investment Funds11 $54.77
Sub-advisory, institutional and other $21.56
Total Mackenzie $76.33
Investment Planning Counsel12
Mutual Funds $4.75
Sub-advisory, institutional and other $1.11
Total Investment Planning Counsel12 $5.24
8 Based on daily average investment fund assets and month-end average institutional, sub-advisory and other assets.
9 Excludes average assets of $16.6 billion managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel.
10 Excludes average assets of $110.6 million in accounts invested in Mackenzie Financial Corporation mutual funds held by Investors Group.
Excludes average assets of $37.9 million in accounts invested in Mackenzie Financial Corporation ETF's held by Investors Group.
11 Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETFs of $340.8 million as at October 31, 2017.
12 IPC's total assets under management excludes the Private Wealth Program investment in Counsel mutual funds of $0.62 billion.

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 $154 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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