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

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

Canada NewsWire

WINNIPEG, Aug. 2, 2018 /CNW/ - IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total investment fund net new money in July of $232.0 million as shown in Table 1. Total assets under management were $160.4 billion at July 31, 2018, compared with $159.1 billion at June 30, 2018 and $147.6 billion at July 31, 2017. Investment fund assets under management were $154.0 billion at July 31, 2018, compared with $152.5 billion at June 30, 2018 and $142.1 billion at July 31, 2017. Assets under management are shown in Table 2.

Table 1 - Net New Money






Month ended July 31, 2018

($ millions) (unaudited)


Investors
Group

Mackenzie

Counsel3

IGM
Financial
1







Mutual Funds







Gross Sales


$737.6

$783.6

$74.2

$1,595.4


Net New Money


$52.8

$85.3

$12.2

$150.3







ETFs







Net New Money



$171.7


$146.4







Consolidated







Net New Money


$52.8

$192.32

$12.2

$232.0



1

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


-

Exchange traded funds ("ETF") exclude $25.3 million in net new money by Investors Group and IPC mutual fund investments in ETFs.

2

Excludes $64.7 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.

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

 

Table 2 - Assets under Management






($ billions) (unaudited)

July

2018

June

 2018

July

 2017

% Change
Last Month

% Change
YOY







IGM Financial






Total Assets under Management4

$160.39

$159.13

$147.55

0.8

8.7







IGM Financial






Investment Funds






Assets under Management4

$153.95

$152.48

$142.10

1.0

8.4








Investors Group








Mutual Funds

$89.57

$88.76

$83.64

0.9

7.1



Total Investors Group

$89.57

$88.76

$83.64

0.9

7.1








Mackenzie








Mutual Funds

$57.39

$56.84

$52.92

1.0

8.4



ETFs

$2.78

$2.60

$0.74

6.9

N/M



Investment Funds5

$59.35

$58.69

$53.36

1.1

11.2



Sub-advisory, institutional and other

$8.05

$8.26

$6.61

(2.5)

21.8



Total Mackenzie

$67.40

$66.95

$59.97

0.7

12.4















Investment Planning Counsel6

$5.60

$5.56

$5.10

0.7

9.8



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 $2.2 billion at July 31, 2018 ($2.1 billion at June 30, 2018 and $1.2 billion at July 31, 2017).


-

Amounts eliminated within IGM Financial consolidated investment fund assets were $567.1 million July 31, 2018 ($539.1 million at June 30, 2018).

5

Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETFs of $821.3 million as at July 31, 2018 ($750.4 million as at June 30, 2018 and $300.6 million at July 31, 2017).

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

$160.48



IGM Financial


Investment Funds Average Assets under Management8

$153.93




Investors Group




Mutual Funds

$89.54



Total Investors Group

$89.54




Mackenzie




Mutual Funds

$57.42



ETFs

$2.70



Investment Funds9

$59.34



Sub-advisory, institutional and other

$8.16



Total Mackenzie

$67.50







Investment Planning Counsel10

$5.61



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 $2.2 billion at July 31, 2018.


-

Amounts eliminated within IGM Financial consolidated investment fund assets were $556.3 million at July 31, 2018.

9

Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETFs of $784.7 million as at July 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 over $160 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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