Investment Planning Counsel Inc.

Investment Planning Counsel Inc.

March 01, 2007 17:55 ET

Investment Planning Counsel Inc. Reports February 2007 Mutual Fund Sales

TORONTO, ONTARIO--(CCNMatthews - March 1, 2007) - Counsel Group of Funds, Inc. a division of Investment Planning Counsel, Inc. today reported preliminary mutual fund sales and assets under management for the month ending February 28, 2007 as follows:



---------------------------------------------------------------------------
Mutual Fund Sales-Month February 2007 February 2006
---------------------------------------------------------------------------
$ millions (unaudited) Sales Redemptions Net New Money Net New Money
(i) (i)
---------------------------------------------------------------------------
Long Term 57.3 19.7 37.6 26.2
Money Market 2.1 0.8 1.3 1.9
----------------------------------------------------
Total 59.4 20.5 38.9 28.1
---------------------------------------------------------------------------

---------------------------------------------------------------------------
Mutual Fund Sales-YTD February 2007 February 2006
---------------------------------------------------------------------------
$ millions (unaudited) Sales Redemptions Net New Money Net New Money
(i) (i)
---------------------------------------------------------------------------
Long Term 87.2 39.9 47.3 36.9
Money Market 3.9 1.6 2.3 2.7
----------------------------------------------------
Total 91.1 41.5 49.6 39.6
---------------------------------------------------------------------------

(i) Net New Money (referred to as Net Sales in prior periods) is defined
as Sales less Redemptions and is consistent with the terminology now
used by The Investment Funds Institute of Canada (IFIC).


Mutual fund assets under management were $2.27 -billion at February 28, 2007, compared to $2.24 -billion at January 31, 2007.

Additional information about Counsel 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
    Steve Meehan
    Chief Executive Officer
    (905) 212-9799
    (905) 212-9675 (FAX)
    Email: smeehan@ipcfn.com