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

Table 1 - Net New Money

Month ended May 31, 2018
($ millions) (unaudited)

Investors
Group

Mackenzie

Counsel⁴

IGM
Financial¹

Mutual Funds

Gross Sales

$724.9

$834.3

$77.4

$1,636.6

Net New Money

($28.2)

($62.1) ²

($8.5)

($98.8)

ETFs

Net New Money

$160.7

$126.4

Consolidated

Net New Money             

($28.2)

$72.5³

($8.5)

$1.5

¹

Consolidated results eliminate double counting where business is reflected in multiple segments

-

Exchange traded funds ("ETF") exclude $34.3 million in net new money by Investors Group and IPC mutual fund investments in ETFs.                                                                 

²

During May 2018, institutional clients and third party programs which include Mackenzie mutual funds made fund allocation changes which resulted in redemptions of $132.3 million.

³

Excludes $26.1 million of net new money in ETFs by Mackenzie mutual funds.

⁴

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)

May

2018

April

 2018

May

 2017

% Change
Last Month

% Change
YOY

IGM Financial

Total Assets under Management⁵

$157.72

$156.30

$150.23

0.9

5.0

IGM Financial

Investment Funds

Assets under Management⁵

$151.12

$149.73

$144.77

0.9

4.4

Investors Group

Mutual Funds                      

$88.14

$87.30

$85.09

1.0

3.6

Total Investors Group

$88.14

$87.30

$85.09

1.0

3.6

Mackenzie

Mutual Funds

$56.28

$55.85

$54.20

0.8

3.8

ETFs

$2.44

$2.26

$0.51

8.0

   N/M

Investment Funds⁶

$58.01

$57.43

$54.46

1.0

6.5

Sub-advisory, institutional and
other                         

$8.20

$8.18

$6.63

0.2

23.7

Total Mackenzie

$66.21

$65.61

$61.09

0.9

8.4

Investment Planning
Counsel⁷

$5.48

$5.47

$5.22

0.2

5.0

 ⁵

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 $2.1 billion at May 31, 2018 ($2.1 billion at April 30, 2018 and $1.2 billion at May 31, 2017).

-

Amounts eliminated within IGM Financial consolidated investment fund assets were $511.8 million at May 31, 2018 ($466.7 million at April 30, 2018).  

⁶

Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETFs of $705.5 million as at May 31, 2018 ($675.4 million as at April 30, 2018 and $261.2 million at May 31, 2017).

⁷

IPC's total assets under management includes Counsel Mutual Funds and the Private Wealth Program.

Table 3 - Average Assets under Management⁸

($ billions) (unaudited)

Quarter to Date

IGM Financial

Total Average Assets under Management⁹

$156.44

IGM Financial

Investment Funds Average Assets under Management⁹

$149.86

Investors Group

Mutual Funds

$87.43

Total Investors Group                                           

$87.43

Mackenzie 

Mutual Funds                                                   

$55.89

ETFs

$2.25

Investment Funds¹⁰

$57.45

Sub-advisory, institutional and other

$8.18

Total Mackenzie                                                    

$65.63

$5.45

⁸

Based on daily average investment fund assets and month-end average institutional, sub-advisory and other assets.

⁹

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 $2.1 billion at May 31, 2018.

-

Amounts eliminated within IGM Financial consolidated investment fund assets were $463.5 million at May 31, 2018.

¹⁰

Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETFs of $690.7 million as at May 31, 2018.

¹¹

IPC's total assets under management includes Counsel Mutual Funds and the Private Wealth Program.