Canada NewsWire
WINNIPEG, Sept. 5, 2018
WINNIPEG, Sept. 5, 2018 /CNW/ - IGM Financial Inc. (IGM) (TSX:
IGM) today reported preliminary total investment fund net new money in August of $101.8 million as
shown in Table 1. Total assets under management were $161.1 billion at August 31, 2018, compared with $160.4 billion at July 31,
2018 and $147.8 billion at August 31, 2017. Investment fund
assets under management were $154.7 billion at August 31, 2018,
compared with $154.0 billion at July 31, 2018 and $142.4 billion at August 31, 2017. Assets under management are shown in Table
2.
|
Table 1 - Net New Money
|
|
Month ended August 31, 2018
($ millions) (unaudited)
|
Investors
Group
|
Mackenzie
|
Counsel3
|
IGM
Financial1
|
|
|
|
|
|
|
Mutual Funds
|
|
|
|
|
|
Gross Sales
|
$667.0
|
$733.7
|
$65.1
|
$1,465.8
|
|
Net New
Money
|
($57.6)
|
$54.8
|
($5.4)
|
($8.2)
|
|
|
|
|
|
|
ETFs
|
|
|
|
|
|
Net New Money
|
|
$118.8
|
|
$104.3
|
|
|
|
|
|
|
Consolidated
|
|
|
|
|
|
Net New Money
|
($57.6)
|
$179.32
|
($5.4)
|
$101.8
|
|
|
|
1
|
Consolidated results eliminate double counting where business is reflected
in multiple segments
|
|
-
|
Exchange traded funds ("ETF") exclude $14.5 million in net new money by
Investors Group and IPC mutual fund investments in ETFs.
|
|
2
|
Excludes ($5.7) million of net new money in ETFs by Mackenzie mutual
funds.
|
|
3
|
IPC Private Wealth Program mutual funds are excluded from net new
money.
|
|
|
|
*Mutual Fund Net New Money is defined as Gross Sales less Gross
Redemptions and is consistent with the terminology
used in the Management Discussion and Analysis (MD&A) issued by IGM Financial.
|
|
Table 2 -Assets under Management
|
|
($ billions) (unaudited)
|
August
2018
|
July
2018
|
August
2017
|
% Change
Last Month
|
% Change
YOY
|
|
|
|
|
|
|
|
IGM Financial
Total Assets under Management4
|
$161.06
|
$160.39
|
$147.81
|
0.4
|
9.0
|
|
|
|
|
|
|
|
IGM Financial
Investment Funds
Assets under Management4
|
$154.71
|
$153.95
|
$142.41
|
0.5
|
8.6
|
|
|
|
|
|
|
|
Investors Group
|
|
|
|
|
|
|
|
Mutual Funds
|
$ 89.82
|
$89.57
|
$83.83
|
0.3
|
7.1
|
|
|
Total Investors Group
|
$ 89.82
|
$89.57
|
$83.83
|
0.3
|
7.1
|
|
|
|
|
|
|
|
Mackenzie
|
|
|
|
|
|
|
|
Mutual Funds
|
$ 57.79
|
$57.39
|
$52.94
|
0.7
|
9.2
|
|
|
ETFs
|
$ 2.90
|
$ 2.78
|
$0.84
|
4.3
|
245.2
|
|
|
Investment Funds5
|
$ 59.88
|
$59.35
|
$53.45
|
0.9
|
12.0
|
|
|
Sub-advisory, institutional and
other
|
$ 7.93
|
$8.05
|
$6.62
|
(1.5)
|
19.8
|
|
|
Total Mackenzie
|
$ 67.81
|
$67.40
|
$60.07
|
0.6
|
12.9
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investment Planning Counsel6
|
$ 5.59
|
$5.60
|
$5.13
|
(0.2)
|
9.0
|
|
|
|
4
|
Mackenzie sub-advisory mandates to Investment Planning Counsel mutual funds
and investment in Mackenzie
investment funds by mutual funds managed by Investors Group or Investment Planning Counsel are reported
within Mackenzie's results and are eliminated within IGM Financial consolidated results:
|
|
-
|
Amounts eliminated within IGM Financial consolidated total assets were $2.2
billion at August 31, 2018
($2.2 billion at July 31, 2018 and $1.2 billion at August 31,
2017).
|
|
-
|
Amounts eliminated within IGM Financial consolidated investment fund assets
were $578.5 million at
August 31, 2018 ($567.1 million at July 31, 2018).
|
|
5
|
Mackenzie investment funds total assets under management exclude Mackenzie
mutual fund investment in ETFs
of $817.9 million as at August 31, 2018 ($821.3 million as at July 31, 2018 and $329.9 million at August 31,
2017).
|
|
6
|
IPC's total assets under management includes Counsel Mutual Funds and the
Private Wealth Program.
|
Preliminary average investment fund assets under management and average total assets under management for the quarter to date
are set out in Table 3.
|
Table 3 -Average Assets under
Management7
|
|
|
($ billions) (unaudited)
|
Quarter to Date
|
|
|
|
IGM Financial
|
|
|
Total Average Assets under Management8
|
$160.46
|
|
|
|
IGM Financial
|
|
|
Investment Funds Average Assets under
Management8
|
$153.98
|
|
|
|
Investors Group
|
|
|
|
Mutual Funds
|
$89.52
|
|
|
Total Investors Group
|
$89.52
|
|
|
|
Mackenzie
|
|
|
|
Mutual Funds
|
$57.46
|
|
|
ETFs
|
$2.77
|
|
|
Investment Funds9
|
$59.43
|
|
|
Sub-advisory, institutional and other
|
$8.08
|
|
|
Total Mackenzie
|
$67.51
|
|
|
|
|
|
|
Investment Planning Counsel10
|
$5.60
|
|
|
|
7
|
Based on daily average investment fund assets and month-end average
institutional, sub-advisory and other assets.
|
|
8
|
Mackenzie sub-advisory mandates to Investment Planning Counsel mutual funds
and investment in Mackenzie
investment funds by mutual funds managed by Investors Group or Investment Planning Counsel are reported
within Mackenzie's results and are eliminated within IGM Financial consolidated results:
|
|
-
|
Amounts eliminated within IGM Financial consolidated total assets were $2.2
billion at August 31, 2018.
|
|
-
|
Amounts eliminated within IGM Financial consolidated investment fund assets
were $564.9 million at
August 31,
2018.
|
|
9
|
Mackenzie investment funds total assets under management exclude Mackenzie
mutual fund investment in ETFs
of $802.1 million as at August 31, 2018.
|
|
10
|
IPC's total assets under management includes Counsel Mutual Funds and the
Private Wealth Program.
|
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 $161 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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