Table 1 - Net New Money

Month ended September 30, 2018

Investors
Group

Mackenzie

Investment
Planning
Counsel⁴

Intercompany
Eliminations¹

IGM
Financial

Mutual Funds

Gross Sales

$609.3

$734.5

$59.0

$1,402.8

Net New Money

($59.1)

($197.8) ³

($10.0)

($266.9)

ETFs

Net New Money

$87.1

$87.1

Mutual Fund

($3.0) ²

($12.3)

($15.3)

Consolidated

Net New Money

($59.1)

($113.7)

($10.0)

($12.3)

($195.1)

¹

Consolidated results eliminate double counting where business is reflected in multiple segments and excludes $12.3 million in net new money by Investors Group and IPC mutual fund investments in ETFs.

²

$3.0 million of net new money in ETFs by Mackenzie mutual funds.

³

During September 2018, an institutional client which includes Mackenzie mutual funds within its investment offerings made fund allocation changes which resulted in sales of $28.1 million, redemptions of $292.7 million and net redemptions of $264.6 million.

⁴

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)

September

2018

August

 2018

September

 2017

% Change
Last Month

% Change
YOY

IGM Financial

Total Assets under Management⁵

$159.71

$161.06

$150.02

(0.8)

6.5

IGM Financial

Investment Funds

Assets under Management⁵

$153.43

$154.71

$144.62

(0.8)

6.1

Investors Group

Mutual Funds

$88.99

$89.82

$85.23

(0.9)

4.4

Total Investors Group

$88.99

$89.82

$85.23

(0.9)

4.4

Mackenzie

Mutual Funds

$57.34

$57.79

$53.64

(0.8)

6.9

ETFs

$2.96

$2.90

$0.91

2.1

225.3

Mutual Fund Investment in ETF⁶

($0.81)

($0.81)

($0.33)

-

145.5

Investment Funds

$59.49

$59.88

$54.22

(0.7)

9.7

Sub-advisory, institutional and other

$7.86

$7.93

$6.62

(0.9)

18.7

Total Mackenzie

$67.35

$67.81

$60.84

(0.7)

10.7

Investment Planning Counsel⁷

$5.53

$5.59

$5.18

(1.1)

6.8

 ⁵

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 September 30, 2018 ($2.2 billion at August 31, 2018 and $1.2 billion at September 30, 2017).

- Amounts eliminated within IGM Financial consolidated investment fund assets were $586.4 million at September 30, 2018 ($578.5 million at August 31, 2018).

⁶

Mackenzie mutual fund investment in ETFs of $814.2 million as at September 30, 2018 ($817.9 million as at August 31, 2018 and $332.9 million at September 30, 2017).

⁷

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

Table 3 - Average Assets under Management⁸

($ billions) (unaudited)

Quarter to Date

IGM Financial

Total Average Assets under Management⁹

$160.43

IGM Financial

Investment Funds Average Assets under Management⁹

$154.00

Investors Group

Mutual Funds

$89.45

Total Investors Group

$89.45

Mackenzie

Mutual Funds

$57.52

ETFs

$2.82

Mutual Fund Investment in ETF¹⁰

($0.81)

Investment Funds

$59.53

Sub-advisory, institutional and other

$8.03

Total Mackenzie

$67.56

Investment Planning Counsel¹¹

$5.58

⁸

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

⁹

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 September 30, 2018.

- Amounts eliminated within IGM Financial consolidated investment fund assets were $571.0 million at September 30, 2018.

¹⁰

Mackenzie mutual fund investment in ETFs of $806.6 million as at September 30, 2018.

¹¹

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