Canada NewsWire
WINNIPEG, Dec. 5, 2017
WINNIPEG, Dec. 5, 2017 /CNW/ - IGM Financial Inc. (IGM) (TSX:
IGM) today reported preliminary total investment fund net new money in November of $232.8 million
as shown in Table 1. Total assets under management were $156.9 billion at November 30, 2017, compared with $154.4 billion at October
31, 2017 and $141.0 billion at November 30, 2016. Investment
fund assets under management were $149.7 billion at November 30,
2017, compared with $148.3 billion at October 31, 2017 and
$135.5 billion at November 30, 2016. Assets under management are
shown in Table 2.
|
Table 1 - Net New Money
|
|
Month ended November 30, 2017
($ millions) (unaudited)
|
Investors
Group
|
Mackenzie
|
Counsel
|
IGM
Financial 1
|
|
|
|
|
|
|
Mutual Funds
|
|
|
|
|
|
Gross Sales
|
$766.3
|
$843.2
|
$80.6
|
$1,690.1
|
|
Net New Money
|
$105.6
|
$57.2
|
$4.6
|
$167.4
|
|
|
|
|
|
|
ETFs
|
|
|
|
|
|
Net New Money
|
|
$132.5
|
|
$77.5
|
|
|
|
|
|
|
Consolidated
|
|
|
|
|
|
Net New Money
|
$105.6
|
$177.62
|
$4.6
|
$232.8
|
|
|
|
1
|
Excludes $55.0 million in net new money of exchange traded funds ("ETF") by
Investor Group's mutual fund investment in Mackenzie ETF's.
|
|
2
|
Excludes $12.1 million in net new money of ETF's by Mackenzie mutual
funds.
|
|
|
|
* Mutual Fund
Net New Money is defined as Gross Sales less Gross Redemptions and is consistent with the terminology used by The
Investment Funds Institute of Canada (IFIC). Total Net New Money includes ETF net creations.
|
|
Table 2 - Assets under Management
|
|
($ billions) (unaudited)
|
November
2017
|
October
2017
|
November
2016
|
% Change
Last Month
|
% Change
YOY
|
|
|
|
|
|
|
|
Total Assets under Management 3
|
$156.93
|
$154.43
|
$140.98
|
1.6
|
11.3
|
|
|
|
|
|
|
|
Investment Funds 4
|
|
|
|
|
|
|
Assets under Management
|
$149.73
|
$148.33
|
$135.51
|
0.9
|
10.5
|
|
|
|
|
|
|
|
Investors Group
|
|
|
|
|
|
|
Mutual Funds
|
$88.22
|
$87.55
|
$80.24
|
0.8
|
9.9
|
|
Sub-advisory, institutional and other
|
$0.73
|
$0.60
|
$0.46
|
21.7
|
58.7
|
|
Total Investors Group
|
$88.95
|
$88.15
|
$80.70
|
0.9
|
10.2
|
|
|
|
|
|
|
|
Mackenzie
|
|
|
|
|
|
|
Mutual Funds
|
$55.97
|
$55.36
|
$50.73
|
1.1
|
10.3
|
|
ETFs
|
$1.24
|
$1.10
|
$0.08
|
12.7
|
N/M
|
|
Investment Funds5
|
$56.85
|
$56.12
|
$50.81
|
1.3
|
11.9
|
|
Sub-advisory, institutional and other6
|
$70.30
|
$37.41
|
$12.47
|
87.9
|
N/M
|
|
Total Mackenzie
|
$127.15
|
$93.53
|
$63.28
|
35.9
|
100.9
|
|
|
|
|
|
|
|
Investment Planning Counsel 7
|
|
|
|
|
|
|
Mutual Funds
|
$4.88
|
$4.83
|
$4.46
|
1.0
|
9.4
|
|
Sub-advisory, institutional and other
|
$1.18
|
$1.17
|
$0.90
|
0.9
|
31.1
|
|
Total Investment Planning Counsel 7
|
$5.40
|
$5.36
|
$4.86
|
0.7
|
11.1
|
|
|
|
3
|
Excludes assets managed by Mackenzie on behalf of Investors Group and
Investment Planning Counsel. These assets had a value of $64.4 billion at November 30, 2017 ($32.4 billion at October 31,
2017 and $7.9 billion at November 30, 2016).
|
|
4
|
Excludes assets in accounts invested in Mackenzie Financial Corporation
mutual funds held by Investors Group. These assets had a value of $113.6 million at November 30, 2017 ($112.5 million at
October 31, 2017).
|
|
Excludes assets in accounts invested in Mackenzie Financial Corporation
ETF's held by Investors Group. These assets had a value of $110.1 million at November 30, 2017
|
|
5
|
Mackenzie investment funds total assets under management exclude Mackenzie
mutual fund investment in ETF's of $362.2 million as at November 30, 2017 ($348.3 million as at October 31,
2017).
|
|
6
|
In November 2017, investment management functions of Investors Group and
Mackenzie Investments joined together to form a single global investment management organization resulting in an increase
of approximately $33 billion in Mackenzie's sub-advisory assets under management.
|
|
7
|
IPC's sub-advisory, institutional and other is comprised of the IPC Private
Wealth Program. IPC's total assets under management excludes the Private Wealth Program investment in Counsel mutual
funds of $0.66 billion as at November 30, 2017 ($0.64 billion at October 31, 2017 and $0.51 billion at November 30,
2016).
|
Preliminary average investment fund assets under management and average total assets under management for the quarter to date
are set out in Table 3.
|
Table 3 - Average Assets under
Management8
|
|
|
($ billions) (unaudited)
|
Quarter to Date
|
|
|
|
Total Average Assets under Management 9
|
$152.74
|
|
|
|
Investment Funds Average Assets under Management
10
|
$146.66
|
|
|
|
Investors Group
|
|
|
|
Mutual Funds
|
$86.71
|
|
|
Sub-advisory, institutional and other
|
$0.62
|
|
|
Total Investors Group
|
$87.33
|
|
|
|
Mackenzie
|
|
|
|
Mutual Funds
|
$54.60
|
|
|
ETFs
|
$1.09
|
|
|
Investment Funds11
|
$55.34
|
|
|
Sub-advisory, institutional and other
|
$45.51
|
|
|
Total Mackenzie
|
$100.85
|
|
|
|
Investment Planning Counsel12
|
|
|
|
Mutual Funds
|
$4.79
|
|
|
Sub-advisory, institutional and other
|
$1.14
|
|
|
Total Investment Planning
Counsel12
|
$5.29
|
|
|
|
8
|
Based on daily average investment fund assets and month-end average
institutional, sub-advisory and other assets.
|
|
9
|
Excludes average assets of $40.6 billion managed by Mackenzie on behalf of
Investors Group and Investment Planning Counsel.
|
|
10
|
Excludes average assets of $111.6 million in accounts invested in Mackenzie
Financial Corporation mutual funds held by Investors Group.
|
|
Excludes average assets of $64.3 million in accounts invested in Mackenzie
Financial Corporation ETF's held by Investors Group.
|
|
11
|
Mackenzie investment funds total assets under management exclude Mackenzie
mutual fund investment in ETFs of $348.0 million as at November 30, 2017.
|
|
12
|
IPC's total assets under management excludes the Private Wealth Program
investment in Counsel mutual funds of $0.64 billion.
|
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 $157 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.
SOURCE IGM Financial Inc.
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