IGM Financial Inc.
TSX : IGM

IGM Financial Inc.

October 02, 2014 18:41 ET

IGM Financial Inc. Announces September 2014 Mutual Fund Sales and Total Assets Under Management

WINNIPEG, MANITOBA--(Marketwired - Oct. 2, 2014) - IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total mutual fund net new money in September of ($106.4) million as shown in Table 1. Total assets under management were $140.6 billion at September 30, 2014, compared with $144.0 billion at August 31, 2014 and $126.0 billion at September 30, 2013. Mutual fund assets under management were $125.2 billion as at September 30, 2014, compared with $127.4 billion at August 31, 2014 and $111.2 billion at September 30, 2013. Assets under management are shown in Table 2.

Table 1 - Mutual Funds Net New Money *
Month ended September 30, 2014
($ millions) (unaudited)
Investors
Group
Mackenzie Counsel IGM
Financial 1
All Mutual Funds
Gross Sales $560.6 $472.8 $55.4 $1,087.0
Net New Money $21.0 ($144.4 ) $18.1 ($106.4 )
Long Term Mutual Funds
Gross Sales $492.3 $441.1 $50.0 $981.6
Net New Money ($1.8 ) ($150.2 ) $13.7 ($139.3 )

*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).

Table 2 - Assets under Management 2
($ billions) (unaudited)
Sept 2014 August 2014 Sept 2013 % Change Last Month % Change YOY
Total Assets under Management $140.62 $143.96 $126.01 (2.3 ) 11.6
Mutual Fund Assets under Management $125.18 $127.41 $111.15 (1.8 ) 12.6
Investors Group
Mutual Funds $72.69 $73.78 $64.43 (1.5 ) 12.8
Mackenzie
Mutual Funds $48.77 $49.85 $43.59 (2.2 ) 11.9
Sub-advisory, institutional and other 3 $21.18 $22.30 $19.68 (5.0 ) 7.6
Total Mackenzie $69.95 $72.15 $63.27 (3.0 ) 10.6
Counsel
Mutual Funds $3.77 $3.83 $3.16 (1.6 ) 19.3

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 Management 4
($ billions) (unaudited) Quarter to Date
Total Average Assets under Management 5 $142.32
Mutual Fund Average Assets under Management 5 $126.18
Investors Group
Mutual Funds $73.15
Mackenzie
Mutual Funds $49.30
Sub-advisory, institutional and other $21.87
Total Mackenzie $71.17
Counsel
Mutual Funds $3.78
(1) Total Mutual Fund Gross Sales and Net New Money for the month ended September 30, 2014 excluded $1.8 million and $1.1 million respectively in accounts invested in Mackenzie Financial Corporation funds held by Investment Planning Counsel.
(2) Excludes assets managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel. These assets have a value of $5.8 billion at September 30, 2014 ($5.8 billion at August 31, 2014 and $4.9 billion at September 30, 2013)
(3) During September 2014 there were tactical rebalances by an institutional client that resulted in net redemptions of $905 million out of investment mandates advised on by Mackenzie.
(4) Based on daily average mutual fund assets and month-end average private, institutional, sub-advisory and other assets.
(5) Excludes average assets of $5.8 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 $141 billion in total assets under management. Its activities are carried out principally through Investors Group through a network of approximately 5,000 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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