Market Overview

IGM Financial Inc. Announces September 2019 Investment Fund Sales and Total Assets Under Management

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WINNIPEG, Oct. 2, 2019 /CNW/ - IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total investment fund net new money of ($145.2) million as shown in Table 1. Investment fund assets under management were $157.6 billion at September 30, 2019, compared with $156.8 billion at August 31, 2019 and $153.4 billion at September 30, 2018. Total assets under management were $162.5 billion at September 30, 2019, compared with $161.7 billion at August 31, 2019 and $159.7 billion at September 30, 2018. Assets under management are shown in Table 2.

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

Table 1 - Net New Money

Month ended September 30, 2019

($millions) (unaudited)

IG Wealth

Management

Mackenzie

Investments

Investment

Planning

Counsel3

Intercompany

Eliminations1

IGM

Financial







Mutual Funds






Gross Sales

$649.8

$748.3

$49.6


$1,447.7

Net New Money

($153.2)

$25.5

($19.7)


($147.4)







ETFs






Net New Money


$97.2



$97.2

 

Inter-product Eliminations


 

($82.6)2


 

($12.4)

 

($95.0)







Consolidated






Net New Money

($153.2)

$40.1

($19.7)

($12.4)

($145.2)

 

1

Consolidated results eliminate double counting where business is reflected in multiple segments and excludes $12.4 million in net new money by IG Wealth Management and IPC mutual fund investments in ETFs.

2

$82.6 million of net new money in ETFs by Mackenzie Investments mutual funds.

3

Preliminary Counsel mutual funds net new money do not include sales/redemptions in the IPC Private Wealth

program. IPC Private Wealth program flows are included in figures presented in MD&A.



*

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.



 

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Table 2 - Assets under Management

($billions) (unaudited)

September

2019

August

2019

September

2018

% Change

Last Month

% Change

YOY







IGM Financial

Total Assets under Management4

$162.54

$161.74

$159.71

0.5

 

1.8







IGM Financial

Investment Funds

Assets under Management4

$157.58

$156.78

$153.43

0.5

 

2.7







IG Wealth Management






Mutual Funds

$90.78

$90.21

$88.99

0.6

2.0

Total IG Wealth Management

$90.78

$90.21

$88.99

0.6

2.0







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