IGM Financial Inc. Announces May 2020 Investment Fund Sales and Total Assets Under Management and IG Wealth Management Assets Under Administration and Client Net Flows

Table 1 ? Investment Fund Net Flows

Month ended May 31, 2020

($millions) (unaudited)

IG Wealth
Management

Mackenzie
Investments

Investment
Planning
Counsel³

Inter-co.
Elimin.¹

IGM
Financial

Mutual Funds

Gross Sales

$568.2

$813.1

$53.5

$1,434.8

Net New Money

($2.8)

$84.5

($2.7)

$79.0

ETFs

Net New Money

$22.6

$22.6

Inter-product Eliminations

$1.1 ²

$43.1

$44.2

Investment Funds Net New Money

($2.8)

$108.2

($2.7)

$43.1

$145.8

Other Client AUA Net Flows

$12.5

Net Client Inflows

$9.7

Table 2 - Assets under Management and Administration

($billions) (unaudited)

May 2020

April 2020

May 2019

% Change
Last Month

% Change
YOY

IGM Financial

Total Assets under Management⁴

$163.16

$159.38

$159.12

2.4

2.5

IGM Financial

Investment Funds

Assets under Management⁴

$155.68

$152.15

$153.19

2.3

1.6

IG Wealth Management

Mutual Funds

$88.65

$86.76

$88.62

2.2

-

Total IG Wealth Management

$88.65

$86.76

$88.62

2.2

-

Mackenzie Investments

Mutual Funds

$59.48

$58.01

$57.35

2.5

3.7

ETFs

$5.72

$5.57

$3.42

2.7

67.3

Inter-product Eliminations⁵

($1.93)

($1.87)

($0.92)

3.2

109.8

Investment Funds

$63.27

$61.71

$59.85

2.5

5.7

Sub-advisory, institutional and other

$8.55

$8.31

$7.11

2.9

20.3

Total Mackenzie Investments

$71.82

$70.02

$66.96

2.6

7.3

Investment Planning Counsel⁶

$5.01

$4.92

$5.37

1.8

(6.7)

$92.62

$91.62

$92.26

1.1

0.4

Table 3 - Average Assets under Management⁷

($billions) (unaudited)

Quarter to Date

IGM Financial

Total Average Assets under Management⁸

$156.53

IGM Financial

Investment Funds Average Assets under Management⁸

$150.20

IG Wealth Management

Mutual Funds

$85.73

Total IG Wealth Management

Mackenzie Investments

Mutual Funds

$57.17

ETFs

$5.51

Inter-product Eliminations⁹

($1.86)

Investment Funds

$60.82

Sub-advisory, institutional and other

$7.39

Total Mackenzie Investments

$68.21

Investment Planning Counsel¹⁰

$4.86

¹   

Consolidated results eliminate double counting where business is reflected in multiple segments and excludes ($43.1) million in net new money by IG Wealth Management and IPC mutual fund investments in ETFs.

²   

($1.1) million of net new money in ETFs by Mackenzie Investments mutual funds.

³  

IGM Financial and Counsel mutual funds net new money presented does not include sales/redemptions in the IPC Private Wealth program. IPC Private Wealth program flows are included in figures presented in the MD&A.

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 $2.3 billion at May 31, 2020 ($2.3 billion at April 30, 2020 and $1.8 billion at May 31, 2019).

- Amounts eliminated within IGM Financial consolidated investment fund assets were $1.3 billion at May 31, 2020 ($1.3 billion at April 30, 2020, $645 million at May 31, 2019).

⁵   

Mackenzie mutual fund investment in ETFs of $1.9 billion as at May 31, 2020 ($1.9 billion as at April 30, 2020 and $928 million as at May 31, 2019).

⁶   

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

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 $2.3 billion at May 31, 2020

- Amounts eliminated within IGM Financial consolidated investment fund assets were $1.2 billion at May 31, 2020.

⁹  

Mackenzie mutual fund investment in ETFs of $1.9 billion as at May 31, 2020.

¹⁰ 

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