WINNIPEG, MANITOBA–(Marketwired – Dec. 2, 2016) – IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total mutual fund net new money in November of $75.2 million as shown in Table 1. Total assets under management were $140.1 billion at November 30, 2016, compared with $139.9 billion at October 31, 2016 and $134.8 billion at November 30, 2015. Mutual fund assets under management were $135.4 billion at November 30, 2016, compared with $133.6 billion at October 31, 2016 and $128.5 billion at November 30, 2015. Assets under management are shown in Table 2.
| Table 1 – Mutual Funds Net New Money* | ||||||
| Month ended November 30, 2016 ($ millions) (unaudited) |
Investors Group | Mackenzie | Counsel | IGM Financial | ||
| All Mutual Funds | ||||||
| Gross Sales | $704.6 | $741.1 | $68.3 | $1,514.0 | ||
| Net New Money | $131.2 | ($67.2 | ) 1 | $11.2 | $75.2 | |
| Long Term Mutual Funds | ||||||
| Gross Sales | $611.5 | $685.5 | $65.4 | $1,362.4 | ||
| Net New Money | $103.5 | ($98.5 | ) | $9.7 | $14.7 | |
*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).
1 MD Financial Management (“MD”) re-assigned sub-advisory responsibilities on a $1.5 billion fixed income mandate advised upon by Mackenzie.
| Table 2 – Assets under Management ($ billions) (unaudited) |
November 2016 |
October 2016 |
November 2015 |
% Change Last Month | % Change YOY | ||||
| Total Assets under Management2 | $140.13 | $139.91 | $134.76 | 0.2 | 4.0 | ||||
| Mutual Fund Assets under Management | $135.43 | $133.63 | $128.54 | 1.3 | 5.4 | ||||
| Investors Group | |||||||||
| Mutual Funds | $80.24 | $79.02 | $75.72 | 1.5 | 6.0 | ||||
| Mackenzie | |||||||||
| Mutual Funds | $50.73 | $50.14 | $48.73 | 1.2 | 4.1 | ||||
| Sub-advisory, institutional and other3 | $12.55 | $14.06 | $13.33 | (10.7 | ) | (5.9 | ) | ||
| Total Mackenzie | $63.28 | $64.20 | $62.06 | (1.4 | ) | 2.0 | |||
| Counsel | |||||||||
| Mutual Funds | $4.46 | $4.47 | $4.15 | (0.2 | ) | 7.5 | |||
| 2 Excludes assets managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel. These assets had a value of $7.9 billion at November 30, 2016 ($7.8 billion at October 31, 2016 and $7.2 billion at November 30, 2015). |
| 3 Includes $84.0 million of Exchange Traded Fund assets managed by Mackenzie at November 30, 2016 ($78.9 million at October 31, 2016). |
Preliminary average mutual fund assets under management and average total assets under management for the quarter to date are set out in Table 3.
| Table 3 – Average Assets under Management 4 | |||
| ($ billions) (unaudited) | Quarter to Date | ||
| Total Average Assets under Management 5 | $139.50 | ||
| Mutual Fund Average Assets under Management | $133.77 | ||
| Investors Group | |||
| Mutual Funds | $79.10 | ||
| Mackenzie | |||
| Mutual Funds | $50.21 | ||
| Sub-advisory, institutional and other | $13.54 | ||
| Total Mackenzie | $63.75 | ||
| Counsel | |||
| Mutual Funds | $4.46 | ||
| 4 Based on daily average mutual fund assets and month-end average institutional, sub-advisory and other assets. |
| 5 Excludes average assets of $7.8 billion managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel. |
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 $140 billion in total assets under management. Its activities are carried out principally through Investors Group’s network of Consultants located across Canada, Mackenzie Financial Corporation’s network of third-party financial advisors and Investment Planning Counsel’s network of financial planners dedicated to serving the needs of their clients.
A MEMBER OF THE POWER FINANCIAL CORPORATION GROUP OF COMPANIES.
Ron Arnst
204-956-3364
ron.arnst@igmfinancial.com
Investor Relations:
Paul Hancock
204-956-8103
investor.relations@igmfinancial.com