Subject: STOCK/OTHER MARKET NEWS
IGM Financial Inc. Announces September 2017 Investment Fund Sales and Total Assets Under Management
WINNIPEG, MANITOBA--(Marketwired - Oct. 4, 2017) - IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total investment fund net new money in September of $200.3 million as shown in Table 1. Total assets under management were $150.0 billion at September 30, 2017, compared with $147.8 billion at August 31, 2017 and $140.7 billion at September 30, 2016. Investment fund assets under management were $144.1 billion at September 30, 2017, compared with $141.9 billion at August 31, 2017 and $133.7 billion at September 30, 2016. Assets under management are shown in Table 2.
| Table 1 - Net New Money | |||||||
| Month ended September 30, 2017 ($ millions) (unaudited) |
Investors Group |
Mackenzie | Counsel | IGM Financial1 |
|||
| Mutual Funds | |||||||
| Gross Sales | $659.4 | $615.7 | $45.0 | $1,318.9 | |||
| Net New Money | $68.7 | $68.2 | ($4.3 | ) | $133.0 | ||
| ETFs | |||||||
| Net New Money | $69.5 | $69.5 | |||||
| Consolidated | |||||||
| Net New Money | $68.7 | $135.5 | 2 | ($4.3 | ) | $200.3 | |
| 1 | Excludes $1.2 million and ($0.4) million respectively in Gross Sales and Net New Money of Mackenzie mutual funds by Investors Group mutual funds. |
| 2 | Excludes $2.2 million in net new money of exchange traded funds ("ETF") by Mackenzie mutual funds. |
*Mutual Fund Net New Money is defined as Gross Sales less Gross Redemptions and is consistent with the terminology used by The Investment Funds Institute of Canada (IFIC). Total Net New Money includes ETF net creations.
| Table 2 - Assets under Management | ||||||
| ($ billions) (unaudited) | September 2017 |
August 2017 |
September 2016 |
% Change Last Month |
% Change YOY |
|
| Total Assets under Management3 | $150.02 | $147.81 | $140.72 | 1.5 | 6.6 | |
| Investment Funds4 Assets under Management | $144.13 | $141.92 | $133.70 | 1.6 | 7.8 | |
| Investors Group | ||||||
| Mutual Funds | $85.23 | $ 83.82 | $78.89 | 1.7 | 8.0 | |
| Sub-advisory, institutional and | ||||||
| other | $0.55 | $0.55 | $0.48 | - | 14.6 | |
| Total IG | $85.77 | $84.37 | $79.37 | 1.7 | 8.1 | |
| Mackenzie | ||||||
| Mutual Funds | $53.75 | $53.05 | $50.25 | 1.3 | 7.0 | |
| ETFs | $0.91 | $0.84 | $0.07 | 8.3 | N/M | |
| Investment Funds5 | $54.32 | $53.56 | $50.32 | 1.4 | 7.9 | |
| Sub-advisory, institutional and other | $14.92 | $14.66 | $13.95 | 1.8 | 7.0 | |
| Total Mackenzie | $69.24 | $68.22 | $64.27 | 1.5 | 7.7 | |
| Investment Planning Counsel6 | ||||||
| Mutual Funds | $4.69 | $4.64 | $4.49 | 1.1 | 4.5 | |
| Sub-advisory, institutional and other | $1.10 | $1.08 | $0.87 | 1.7 | 26.3 | |
| Total Investment Planning Counsel6 | $5.18 | $5.13 | $4.86 | 1.0 | 6.6 | |
| 3 | Excludes assets managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel. These assets had a value of $10.1 billion at September 30, 2017 ($9.8 billion at August 31, 2017 and $7.8 billion at September 30, 2016). |
| 4 | Excludes assets in accounts invested in Mackenzie Financial Corporation mutual funds held by Investors Group. These assets had a value of $108.8 million at September 30, 2017 ($107.8 million at August 31, 2017). |
| 5 | Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETF's of $332.9 million as at September 30, 2017 and $329.9 million as at August 31, 2017. |
| 6 | 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 $0.61 billion as at September 30, 2017 ($0.59 billion at August 31, 2017 and $0.50 billion at September 30, 2016). |
Preliminary average investment fund assets under management and average total assets under management for the quarter to date are set out in Table 3.
| Table 3 - Average Assets under Management7 | ||||
| ($billions) (unaudited) | Quarter to Date | |||
| Total Average Assets under Management8 | $147.76 | |||
| Investment Funds Average Assets under Management9 | $141.89 | |||
| Investors Group | ||||
| Mutual Funds | $83.81 | |||
| Sub-advisory, institutional and other | $0.56 | |||
| Total Investors Group | $84.37 | |||
| Mackenzie | ||||
| Mutual Funds | $53.06 | |||
| ETFs | $0.78 | |||
| Investment Funds10 | $53.53 | |||
| Sub-advisory, institutional and other | $14.69 | |||
| Total Mackenzie | $68.22 | |||
| Investment Planning Counsel11 | ||||
| Mutual Funds | $4.66 | |||
| Sub-advisory, institutional and other | $1.08 | |||
| Total Investment Planning Counsel11 | $5.12 | |||
| 7 | Based on daily average investment fund assets and month-end average institutional, sub-advisory and other assets. |
| 8 | Excludes average assets of $9.9 billion managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel. |
| 9 | Excludes average assets of $107.5 million in accounts invested in Mackenzie Financial Corporation mutual funds held by Investors Group. |
| 10 | Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETFs of $312.5 million as at September 30, 2017. |
| 11 | IPC's total assets under management excludes the Private Wealth Program investment in Counsel mutual funds of $0.61 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 over $150 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.
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