WINNIPEG, MANITOBA–(Marketwired – May 2, 2017) – IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total investment fund net new money in April of $168.8 million as shown in Table 1. Total assets under management were $149.7 billion at April 30, 2017, compared with $147.1 billion at March 31, 2017 and $132.8 billion at April 30, 2016. Investment fund assets under management were $144.3 billion at April 30, 2017, compared with $141.7 billion at March 31, 2017 and $127.0 billion at April 30, 2016. Assets under management are shown in Table 2.
| Table 1 – Net New Money | ||||||
| Month ended April 30, 2017 ($ millions) (unaudited) |
Investors Group | Mackenzie | Counsel | IGM Financial | ||
| Mutual Funds | ||||||
| Gross Sales | $686.2 | $609.1 | $51.5 | $1,346.8 | ||
| Net New Money | $71.9 | $89.3 | ($15.9 | ) | $145.3 | |
| ETFs | ||||||
| Net New Money | $206.5 | $206.5 | ||||
| Consolidated | ||||||
| Net New Money | $71.9 | $112.81 | ($15.9 | ) | $168.8 | |
| 1 | Excludes $183.0 million in Exchange traded fund (“ETF”) net new money related to Mackenzie Mutual funds. |
| * | Mutual Fund Net New Money is defined as Gross Sales less Gross Redemptions and is consistent with the terminology used by The Investment Funds Institute of Canada (IFIC). Total Net New Money includes ETF net creations. |
| Table 2 – Assets under Management | |||||||
| ($ billions) (unaudited) | April 2017 |
March 2017 |
April 2016 |
% Change Last Month |
% Change YOY |
||
| Total Assets under Management2 | $149.69 | $147.06 | $132.84 | 1.8 | 12.7 | ||
| Investment Funds Assets under Management |
$144.29 | $141.65 | $127.03 | 1.9 | 13.6 | ||
| Investors Group | |||||||
| Mutual Funds | $85.27 | $83.90 | $75.23 | 1.6 | 13.3 | ||
| Sub-advisory, institutional and other | $0.57 | $0.54 | $0.43 | 5.6 | 32.6 | ||
| Total IG | $85.84 | $84.44 | $75.66 | 1.7 | 13.5 | ||
| Mackenzie | |||||||
| Mutual Funds | $54.07 | $52.94 | $47.55 | 2.1 | 13.7 | ||
| ETFs | $0.45 | $0.23 | $0.03 | 95.7 | N/M | ||
| Investment Funds3 | $54.26 | $53.10 | $47.58 | 2.2 | 14.0 | ||
| Sub-advisory, institutional and other | $13.35 | $13.21 | $12.66 | 1.1 | 5.5 | ||
| Total Mackenzie | $67.61 | $66.31 | $60.24 | 2.0 | 12.2 | ||
| Counsel | |||||||
| Mutual Funds | $4.76 | $4.65 | $4.22 | 2.4 | 12.8 | ||
| 2 | Excludes assets managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel. These assets had a value of $8.5 billion at April 30, 2017 ($8.3 billion at March 31, 2017 and $7.3 billion at April 30, 2016). |
| 3 | Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETFs of $256.2 million as at April 30, 2017 and $69.2 million as at March 31, 2017. |
Preliminary average investment fund assets under management and average total assets under management for the quarter to date are set out in Table 3.
| Table 3 – Average Assets under Management4 | |||
| ($ billions) (unaudited) | Quarter to Date | ||
| Total Average Assets under Management5 | $148.01 | ||
| Investment Funds Average Assets under Management | $142.60 | ||
| Investors Group | |||
| Mutual Funds | $84.48 | ||
| Sub-advisory, institutional and other | $0.56 | ||
| Total Investors Group | $85.04 | ||
| Mackenzie | |||
| Mutual Funds | $53.26 | ||
| ETFs | $0.28 | ||
| Investment Funds6 | $53.43 | ||
| Sub-advisory, institutional and other | $13.28 | ||
| Total Mackenzie | $66.71 | ||
| Counsel | |||
| Mutual Funds | $4.69 | ||
| 4 | Based on daily average investment fund assets and month-end average institutional, sub-advisory and other assets. |
| 5 | Excludes average assets of $8.4 billion managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel. |
| 6 | Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETFs of $103.6 million as at April 30, 2017. |
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 $150 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.
Ron Arnst
204-956-3364
[email protected]
Investor Relations:
Paul Hancock
204-956-8103
[email protected]
