Investment Planning Counsel Inc.

Investment Planning Counsel Inc.

January 05, 2011 12:11 ET

Investment Planning Counsel Inc. Reports December 2010 Mutual Fund Sales and Assets Under Management

TORONTO, ONTARIO--(Marketwire - Jan. 5, 2011) - Counsel Portfolio Services Inc. and Titan Funds Incorporated, divisions of Investment Planning Counsel Inc., today reported preliminary mutual fund sales and assets under management for the month ending December 31, 2010. Mutual fund assets under management were $2.69 billion at December 31, 2010 compared with $2.14 billion at December 31, 2009.

Mutual Fund Sales - Month   December 2010 December 2009
$ millions (unaudited) Sales Redemptions Net New Money * Net New Money *
Long Term 44.0 24.8 19.2 20.0
Money Market 6.6 2.2 4.4 3.0
Total 50.6 27.0 23.6 23.0
         
Mutual Fund Sales - YTD   December 2010 December 2009
$ millions (unaudited) Sales Redemptions Net New Money * Net New Money *
Long Term 448.5 273.1 175.4 73.8
Money Market 50.2 21.3 28.9 32.5
Total 498.7 294.4 204.3 106.3

* Net New Money is defined as Sales less Redemptions and is consistent with the terminology used by The Investment Funds Institute of Canada (IFIC).

A subsidiary of Investment Planning Counsel Inc. acquired Titan Funds Incorporated effective November 1, 2010. Sales and net sales (redemptions) since the acquisition date have been included in the tables above. Mutual fund assets under management for Titan Funds Incorporated were $126 million as at December 31, 2010.

For additional information about average assets under management, please see the IGM Financial press release which will be available on January 5, 2011. Additional information about mutual fund assets and fund flows will be available on the Investment Funds Institute of Canada (IFIC) web site (www.ific.ca) on approximately the 15th of each month as part of a Canadian industry-wide release of monthly statistics.

Investment Planning Counsel is an integrated wealth management company focused on providing Canadians with financial products, services and advice to help them achieve their financial dreams. Investment Planning Counsel has developed a strategy that marries the needs of the planners with that of the company. Investment Planning Counsel's intent is to be the premier choice among financial planners who are dedicated to serving the needs of their clients. Investment Planning Counsel is a member of the IGM Financial Inc. (TSX:IGM) group of companies.

Contact Information

  • Investment Planning Counsel
    Chris Reynolds
    (905) 212-9799
    (905) 212-9675 (FAX)
    creynolds@ipcc.ca