WINNIPEG, MANITOBA–(Marketwired – Nov. 2, 2016) – IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total mutual fund net new money in October of $74.5 million as shown in Table 1. Total assets under management were $139.9 billion at October 31, 2016, compared with $139.9 billion at September 30, 2016 and $134.2 billion at October 31, 2015. Mutual fund assets under management were $133.6 billion at October 31, 2016, compared with $133.6 billion at September 30, 2016 and $127.9 billion at October 31, 2015. Assets under management are shown in Table 2.
| Table 1 – Mutual Funds Net New Money* | |||||
| Month ended October 31, 2016 ($ millions) (unaudited) |
Investors Group | Mackenzie | Counsel | IGM Financial | |
| All Mutual Funds | |||||
| Gross Sales | $706.6 | $511.9 | $63.1 | $1,281.6 | |
| Net New Money | $91.6 | ($31.7) | $13.2 | $74.5 | |
| Long Term Mutual Funds | |||||
| Gross Sales | $645.4 | $480.8 | $59.6 | $1,185.8 | |
| Net New Money | $88.0 | ($44.8) | $10.2 | $54.8 | |
| * | Mutual Fund Net New Money is defined as Gross Sales less Gross Redemptions and is consistent with the terminology used by The Investment Funds Institute of Canada (IFIC). |
| Table 2 – Assets under Management ($ billions) (unaudited) |
October 2016 |
September 2016 |
October 2015 |
% Change Last Month | % Change YOY | ||
| Total Assets under Management1 | $139.91 | $139.87 | $134.22 | – | 4.2 | ||
| Mutual Fund Assets under Management | $133.63 | $133.63 | $127.93 | – | 4.5 | ||
| Investors Group | |||||||
| Mutual Funds | $79.02 | $78.89 | $75.28 | 0.2 | 5.0 | ||
| Mackenzie | |||||||
| Mutual Funds | $50.14 | $50.25 | $48.61 | (0.2) | 3.1 | ||
| Sub-advisory, institutional and other2 | $14.06 | $14.02 | $13.35 | 0.2 | 5.3 | ||
| Total Mackenzie | $64.20 | $64.27 | $61.96 | (0.1) | 3.6 | ||
| Counsel | |||||||
| Mutual Funds | $4.47 | $4.49 | $4.10 | (0.4) | 9.0 | ||
| 1 | Excludes assets managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel. These assets had a value of $7.8 billion at October 31, 2016 ($7.8 billion at September 30, 2016 and $7.1 billion at October 31, 2015). |
| 2 | Includes $78.9 million of Exchange Traded Fund assets managed by Mackenzie. |
Preliminary average mutual fund assets under management and average total assets under management for the quarter to date are set out in Table 3.
| Table 3 – Average Assets under Management3 | ||||
| ($ billions) (unaudited) | Quarter to Date | |||
| Total Average Assets under Management4 | $139.71 | |||
| Mutual Fund Average Assets under Management | $133.45 | |||
| Investors Group | ||||
| Mutual Funds | $78.84 | |||
| Mackenzie | ||||
| Mutual Funds | $50.15 | |||
| Sub-advisory, institutional and other | $14.03 | |||
| Total Mackenzie | $64.18 | |||
| Counsel | ||||
| Mutual Funds | $4.47 | |||
| 3 | Based on daily average mutual fund assets and month-end average institutional, sub-advisory and other assets. |
| 4 | 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 over $139 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 diversified network of third-party financial advisors and Investment Planning Counsel’s network of financial planners dedicated to serving the needs of their clients.
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