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

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

Canada NewsWire

WINNIPEG, Oct. 2, 2018 /CNW/ - IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total investment fund net new money in September of ($195.1) million as shown in Table 1. Preliminary total investment fund net new money in September was $69.5 million excluding mutual fund allocation changes made by an institutional client during the month3. Total assets under management were $159.7 billion at September 30, 2018, compared with $161.1 billion at August 31, 2018 and $150.0 billion at September 30, 2017. Investment fund assets under management were $153.4 billion at September 30, 2018, compared with $154.7 billion at August 31, 2018 and $144.6 billion at September 30, 2017. Assets under management are shown in Table 2.

Table 1 - Net New Money

Month ended September 30, 2018


($ millions) (unaudited)

Investors
Group

Mackenzie

Investment
Planning
Counsel
4

Intercompany
Eliminations
1

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







Investment in ETF


($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.

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


*

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




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