IGM Financial Inc. Announces March 2018 Investment Fund Sales and Total Assets Under Management

IGM Financial Inc. Announces March 2018 Investment Fund Sales and Total Assets Under Management

Canada NewsWire

WINNIPEG, April 3, 2018 /CNW/ - IGM Financial Inc. (IGM) IGM today reported preliminary total investment fund net new money in March of $454.2 million as shown in Table 1. Total assets under management were $155.8 billion at March 31, 2018, compared with $156.4 billion at February 28, 2018 and $147.5 billion at March 31, 2017. Investment fund assets under management were $149.2 billion at March 31, 2018, compared with $149.7 billion at February 28, 2018 and $142.1 billion at March 31, 2017. Assets under management are shown in Table 2.

Table 1 - Net New Money

Month ended March 31, 2018

($ millions) (unaudited)

Investors

Group

Mackenzie

Counsel3

IGM

Financial
1











Mutual Funds











Gross Sales

$888.2

$903.1

$75.3

$1,866.6



Net New Money

$208.7

$173.0

$9.8

$391.5











ETFs











Net New Money



$209.9



$119.3











Consolidated











Net New Money

$208.7

$326.32

$9.8

$454.2

IGM Financial logo (CNW Group/IGM Financial Inc.)

 



1

Consolidated results eliminate double counting where business is reflected in multiple segments



-

Exchange traded funds ("ETF") exclude $90.6 million in net new money by Investors Group and IPC mutual

fund investments in ETFs.

2

Excludes $56.6 million of net new money in ETFs by Mackenzie mutual funds.

3

IPC Private Wealth Program mutual funds are excluded from net new money.





*

Mutual Fund Net New Money is defined as Gross Sales less Gross Redemptions and is consistent with the terminology

used in the Management Discussion and Analysis (MD&A) issued by IGM Financial.

 

Table 2 - Assets under Management

($ billions) (unaudited)

March

2018

February

 2018

March

 2017

% Change

Last Month

% Change

YOY













IGM Financial

Total Assets under Management4

$155.76

$156.37

$147.50

(0.4)

5.6













IGM Financial

Investment Funds

Assets under Management4

$149.20

$149.72

$142.09

(0.3)

5.0













Investors Group













Mutual Funds

$87.10

$87.50

$83.90

(0.5)

3.8



Total Investors Group

$87.10

$87.50

$83.90

(0.5)

3.8













Mackenzie













Mutual Funds

$55.59

$55.76

$52.94

(0.3)

5.0



ETFs

$2.00

$1.80

$0.23

11.1

  N/M



Investment Funds5

$56.99

$57.02

$53.10

-

7.3



Sub-advisory, institutional and

other

$8.17

$8.20

$6.55

(0.4)

24.7



Total Mackenzie

$65.16

$65.22

$59.65

(0.1)

9.2



























Investment Planning

Counsel
6

$5.45

$5.45

$5.09

-

7.1

 

 4

Mackenzie sub-advisory mandates to Investment Planning Counsel mutual funds and investment in Mackenzie

investment funds by mutual funds managed by Investors Group or Investment Planning Counsel are reported

within Mackenzie's results and are eliminated within IGM Financial consolidated results:



-

Amounts eliminated within IGM Financial consolidated total assets were $2.0 billion at March 31, 2018 ($1.8 billion at February 28, 2018 and $1.1

billion at March 31, 2017).



-

Amounts eliminated within IGM Financial consolidated investment fund assets were $346.1 million at March

31, 2018 ($257.0 million at February 28, 2018).

5

Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETFs

of $596.7 million as at March 31, 2018 ($542.1 million as at February 28, 2018).

6

IPC's total assets under management includes Counsel Mutual Funds and the Private Wealth Program.

 

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 Management7



($ billions) (unaudited)

Quarter to Date





IGM Financial

Total Average Assets under Management8

$156.80





IGM Financial

Investment Funds Average Assets under Management8

$150.12







Investors Group







Mutual Funds

$87.84





Total Investors Group

$87.84







Mackenzie







Mutual Funds

$55.90





ETFs

$1.67





Investment Funds9

$57.07





Sub-advisory, institutional and other

$8.16





Total Mackenzie

$65.23













Investment Planning Counsel10

$5.44

 

7

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

8

Mackenzie sub-advisory mandates to Investment Planning Counsel mutual funds and investment in Mackenzie

investment funds by mutual funds managed by Investors Group or Investment Planning Counsel are reported

within Mackenzie's results and are eliminated within IGM Financial consolidated results:



-

Amounts eliminated within IGM Financial consolidated total assets were $1.7 billion at March 31, 2018.



-

Amounts eliminated within IGM Financial consolidated investment fund assets were $232.0 million at March

31, 2018.

9

Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETFs

of $503.2 million as at March 31, 2018.

10

IPC's total assets under management includes Counsel Mutual Funds and the Private Wealth Program.

 

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 $156 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.

SOURCE IGM Financial Inc.

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