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IGM Financial Inc. Announces November 2018 Investment Fund Sales and Total Assets Under Management

T.IGM | December 4, 2018

Canada NewsWire

WINNIPEG, Dec. 4, 2018

WINNIPEG, Dec. 4, 2018 /CNW/ - IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary total investment fund net new money in November of $25.5 million as shown in Table 1. Total assets under management were $155.2 billion at November 30, 2018, compared with $153.1 billion at October 31, 2018 and $156.9 billion at November 30, 2017. Investment fund assets under management were $149.2 billion at November 30, 2018, compared with $147.2 billion at October 31, 2018 and $150.3 billion at November 30, 2017. Assets under management are shown in Table 2.

IGM Financial Inc. (CNW Group/IGM Financial Inc.)

Table 1 - Net New Money Month ended November 30, 2018

($millions) (unaudited)	IG Wealth Management	Mackenzie	Investment Planning Counsel³	Intercompany Eliminations¹	IGM Financial

Mutual Funds
Gross Sales	$734.3	$775.0	$60.0		$1,569.3
Net New Money	($31.8)	($45.4)	($21.5)		($98.7)

ETFs
Net New Money		$149.4			$149.4
Mutual Fund Investment in ETF		($21.6) ²		($3.6)	($25.2)

Consolidated
Net New Money	($31.8)	$82.4	($21.5)	($3.6)	$25.5

¹ Consolidated results eliminate double counting where business is reflected in multiple segments and excludes $3.6 million in net new money by IG Wealth Management and IPC mutual fund investments in ETFs.
² $21.6 million of net new money in ETFs by Mackenzie mutual funds.
³ PC 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)	November 2018	October 2018	November 2017	% Change Last Month	% Change YOY

IGM Financial Total Assets under Management⁴	$155.15	$153.09	$156.93	1.3	(1.1)

IGM Financial Investment Funds Assets under Management⁴	$149.19	$147.16	$150.25	1.4	(0.7)

IG Wealth Management
Mutual Funds	$86.27	$85.16	$88.22	1.3	(2.2)
Total IG Wealth Management	$86.27	$85.16	$88.22	1.3	(2.2)

Mackenzie
Mutual Funds	$55.77	$55.08	$55.85	1.3	(0.1)
ETFs	$3.14	$2.98	$1.24	5.4	153.2
Mutual Fund Investment in ETF⁵	$(0.82)	($0.80)	($0.36)	2.5	127.8
Investment Funds	$58.09	$57.26	$56.73	1.4	2.4
Sub-advisory, institutional and other	$7.44	$7.45	$7.95	(0.1)	(6.4)
Total Mackenzie	$65.53	$64.71	$64.68	1.3	1.3


Investment Planning Counsel⁶	$5.31	$5.30	$5.40	0.2	(1.7)

⁴ Mackenzie sub-advisory mandates to Investment Planning Counsel mutual funds and investment in Mackenzie investment funds by mutual funds managed by IG Wealth Management 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 $2.0 billion at November 30, 2018 ($2.1 billion at October 31, 2018 and $1.4 billion at November 30, 2017).
-	Amounts eliminated within IGM Financial consolidated investment fund assets were $483.8 million at November 30, 2018 ($566.0 million at October 31, 2018, $110.1 million at November 30, 2017).
⁵ Mackenzie mutual fund investment in ETFs of $824.2 million as at November 30, 2018 ($799.9 million as at October 31, 2018 and $362.2 million as at November 30, 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	$154.53

IGM Financial Investment Funds Average Assets under Management⁸	$148.48

IG Wealth Management
Mutual Funds	$85.98
Total IG Wealth Management	$85.98

Mackenzie
Mutual Funds	$55.53
ETFs	$3.01
Mutual Fund Investment in ETF⁹	$(0.81)
Investment Funds	$57.73
Sub-advisory, institutional and other	$7.58
Total Mackenzie	$65.31


Investment Planning Counsel¹⁰	$5.34


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 IG Wealth Management 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 $2.1 billion at November 30, 2018.
-	Amounts eliminated within IGM Financial consolidated investment fund assets were $573.8 million at November 30, 2018.
⁹ Mackenzie mutual fund investment in ETFs of $809.6 million as at November 30, 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 approximately $155 billion in total assets under management. Its activities are carried out principally through IG Wealth Management, Mackenzie Investments and Investment Planning Counsel.

A MEMBER OF THE POWER FINANCIAL CORPORATION GROUP OF COMPANIES.

SOURCE IGM Financial Inc.