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IGM FINANCIAL INC. ANNOUNCES JUNE 2022 ASSETS UNDER MANAGEMENT & ADVISEMENT AND NET FLOWS

T.IGM

WINNIPEG, MB, July 6, 2022 /CNW/ - IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary total consolidated net outflows of $389 million during June 2022 as shown in Table 1. Total assets under management and advisement were $242.1 billion at June 30, 2022, compared with $255.8 billion at May 31, 2022, and $262.0 billion at June 30, 2021. Assets under management and advisement are shown in Table 2.

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

JUNE HIGHLIGHTS
IGM Financial – Assets under management & advisement of $242.1 billion were down 5.4% in the month. Total net outflows were $389 million compared to net inflows of $753 million in June 2021. Investment fund net redemptions were $519 million compared to net sales of $704 million in June 2021.

IG Wealth Management – Assets under advisement of $105.5 billion were down 5.1% in the month. Total net inflows were $174 million compared to net inflows of $299 million in June 2021.

Mackenzie – Assets under management of $184.7 billion were down 5.6% in the month. Total net outflows were $623 million compared to net inflows of $518 million in June 2021. Investment fund net redemptions were $447 million compared to net sales of $528 million in June 2021.

Table 1 - Gross and Net Flows

Please see www.igmfinancial.com for file with trended history.



Wealth Management


Asset
Management


($ millions) (unaudited)

IG Wealth
Management

Investment
Planning
Counsel

Total


Mackenzie(2)(3)

IGM

Financial

For the month ended June 30, 2022

Net flows
















Mutual fund net sales

(57.1)

(15.0)

(72.1)


(402.8)

(474.9)


ETF net creations

-

-

-


(44.4)(1)

(44.4)


Investment fund net sales

(57.1)

(15.0)

(72.1)


(447.2)

(519.3)


Institutional SMA net sales

-

-

-


(175.3)

(175.3)


Managed asset net sales

(57.1)

(15.0)

(72.1)


(622.5)

(694.6)


Mackenzie Investment fund net sales

(0.1)

(11.2)

(11.3)(2)













IGM Product net sales

(57.2)

(26.2)

(83.4)













Other net flows

230.8

74.4

305.5



305.5









Net flows

173.6

48.2

222.1


(622.5)

(389.1)(4)









Gross flows








Mutual fund gross sales

835.5

54.8

890.3


502.3

1,392.6


Dealer gross inflows

1,051.7

370.5

1,422.2



1,422.2

Table 2 – Assets under Management and Advisement

($ millions) (unaudited)

June

2022

May

2022

% Change
Last Month

Wealth Management




IG Wealth Management




Assets under management

96,603

102,098

(5.4 %)

Other assets under advisement

8,871

8,994

(1.4 %)

Assets under advisement

105,474

111,092

(5.1 %)

Investment Planning Counsel




Assets under management

4,635

4,912

(5.6 %)

Other assets under advisement

24,057

25,318

(5.0 %)

Assets under advisement

28,692

30,230

(5.1 %)

Total




Assets under management

101,238

107,010

(5.4 %)

Other assets under advisement

32,921

34,304

(4.0 %)

Assets under advisement

134,159

141,314

(5.1 %)





Asset management




Mackenzie




Mutual funds

53,576

56,878

(5.8 %)

ETFs

5,368

5,605

(4.2 %)

Investment funds

58,944

62,483

(5.7 %)





Institutional SMA

6,344

6,792

(6.6 %)

Sub-advisory to Canada Life

46,575

49,357

(5.6 %)

Total Institutional SMA

52,919

56,149

(5.8 %)

Total (ex sub-advisory to Wealth Management)

111,863

118,632

(5.7 %)

Sub-advisory to Wealth Management

72,855

77,083

(5.5 %)

Total

184,718

195,715

(5.6 %)





ETF's distributed to third parties

5,368

5,605

(4.2 %)

ETF's held within IGM managed products

6,230

6,768

(7.9 %)

Total ETFs

11,598

12,373

(6.3 %)





Consolidated




Assets under management

213,101

225,642

(5.6 %)

Other assets under advisement

28,982

30,129

(3.8 %)

Assets under management and advisement(4)

242,083

255,771

(5.4 %)

Preliminary average assets under management and advisement for the quarter to date are set out in Table 3.

Table 3 - Average Assets under Management and Advisement


($ millions) (unaudited)

Quarter to date 2022

Wealth Management


IG Wealth Management


Assets under management

101,810

Other assets under advisement

8,890

Assets under advisement

110,700

Investment Planning Counsel


Assets under management

4,927

Other assets under advisement

25,379

Assets under advisement

30,306

Total


Assets under management

106,737

Other assets under advisement

34,260

Assets under advisement

140,997



Asset Management


Mackenzie


Mutual funds

56,891

ETFs

5,636

Investment funds

62,527

Institutional SMA

6,758

Sub-advisory to Canada Life

49,193

Total Institutional SMA

55,951



Total (ex sub-advisory to Wealth Management)

118,478

Sub-advisory to Wealth Management

77,062

Total

195,540



ETFs distributed to third parties

5,636

ETFs held within IGM managed products

6,715

Total ETFs

12,351



Consolidated


Assets under management

225,215

Other assets under advisement

30,069

Assets under management and advisement(5)

255,284



1

ETF net creations excludes ($73.2) million in ETF net creations to IGM managed products.

2

Excludes sub-advisory to Canada Life and the Wealth Management segment.

3

($11.3) million in Mackenzie investment fund net flows through the Wealth Management segment have been eliminated on consolidation.

4

Within total assets under management and advisement, $3.9 billion in Mackenzie investment funds distributed through the Wealth Management segment eliminates on consolidation at June 30, 2022. ($4.2 billion at May 31, 2022).

5

Within average total assets under management and advisement, $4.2 billion in Mackenzie mutual funds distributed through the Wealth Management segment eliminates on consolidation.

Glossary of Terms

Mutual fund gross sales, net sales and assets under management reflect the results of the mutual funds managed by the respective operating companies, and in the case of the Wealth Management segment also include other discretionary portfolio management services provided by the operating companies, including separately managed account programs.

"ETF's" represent exchange traded funds managed by Mackenzie.

Institutional SMA represents investment advisory and sub-advisory mandates to institutional investors through separately managed accounts.

"Other dealer net flows" and "other assets under advisement" represents financial savings products held within client accounts at the Wealth Management operating companies that are not invested in products or programs where these operating companies perform investment management activities. These savings products include investment funds managed by third parties, direct investment in equity and fixed income securities and deposit products."

"Assets under advisement" represents all savings products held within client accounts at the Wealth Management operating companies.

"Net flows" represents the total net contributions, in cash or in kind, to client accounts at the Wealth Management operating companies and the overall net sales to the Asset Management segment.

"Wealth Management" – Reflects the activities of operating companies that are principally focused on providing financial planning and related services to Canadian households. This segment includes the activities of IG Wealth Management and Investment Planning Counsel. These firms are retail distribution organizations who serve Canadian households through their securities dealers, mutual fund dealers and other subsidiaries licensed to distribute financial products and services. The majority of the revenues of this segment are derived from providing financial advice and distributing financial products and services to Canadian households. This segment also includes the investment management activities of these organizations, including mutual fund management and discretionary portfolio management services.

"Asset Management" – Reflects the activities of operating companies primarily focused on providing investment management services, and represents the operations of Mackenzie Investments. Investment management services are provided to a suite of investment funds that are distributed through third party dealers and financial advisors, and also through institutional advisory mandates to pension and other institutional investors.

IGM Financial Inc. is one of Canada's leading diversified wealth and asset management companies with approximately $242 billion in total assets under management and advisement. The company provides a broad range of financial planning and investment management services to help more than two million Canadians meet their financial goals. Its activities are carried out principally through IG Wealth Management, Mackenzie Investments and Investment Planning Counsel. IGM Financial is a member of the Power Corporation group of companies.

SOURCE IGM Financial Inc.

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2022/06/c4675.html



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