IGM Financial Inc. Announces February 2018 Investment Fund Sales and Total Assets Under Management Français
WINNIPEG, March 5, 2018 /CNW/ - IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary total investment fund net new money in February of $670.6 million as shown in Table 1. Total assets under management were $156.4 billion at February 28, 2018, compared with $157.5 billion at January 31, 2018 and $146.0 billion at February 28, 2017. Investment fund assets under management were $149.7 billion at February 28, 2018, compared with $150.8 billion at January 31, 2018 and $140.7 billion at February 28, 2017. Assets under management are shown in Table 2.
Table 1 - Net New Money |
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Month ended February 28, 2018 |
Investors |
Mackenzie |
Counsel3 |
IGM |
|
Mutual Funds |
|||||
Gross Sales |
$1,076.0 |
$922.0 |
$76.4 |
$2,074.4 |
|
Net New Money |
$421.7 |
$171.1 |
$15.3 |
$608.1 |
|
ETFs |
|||||
Net New Money |
$238.1 |
$227.0 |
|||
Consolidated |
|||||
Net New Money |
$421.7 |
$244.72 |
$15.3 |
$670.6 |
1 |
Consolidated results eliminate double counting where business is reflected in multiple segments |
|
- |
Exchange traded funds ("ETF") exclude $11.1 million in net new money by IPC mutual fund investments in |
|
2 |
Excludes $164.5 million of net new money in ETFs by Mackenzie mutual funds. |
|
3 |
IPC Private Wealth Program mutual funds are excluded from net new money. |
* |
Mutual Fund Net New Money is defined as Gross Sales less Gross Redemptions and is consistent with the terminology |
Table 2 - Assets under Management |
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($ billions) (unaudited) |
February 2018 |
January 2018 |
February 2017 |
% Change |
% Change |
||
IGM Financial Total Assets under Management4 |
$156.37 |
$157.54 |
$145.97 |
(0.7) |
7.1 |
||
IGM Financial Investment Funds Assets under Management4 |
$149.72 |
$150.75 |
$140.69 |
(0.7) |
6.4 |
||
Investors Group |
|||||||
Mutual Funds |
$87.50 |
$88.30 |
$83.05 |
(0.9) |
5.4 |
||
Total Investors Group |
$87.50 |
$88.30 |
$83.05 |
(0.9) |
5.4 |
||
Mackenzie |
|||||||
Mutual Funds |
$55.76 |
$56.07 |
$52.48 |
(0.6) |
6.3 |
||
ETFs |
$1.80 |
$1.57 |
$0.14 |
14.6 |
N/M |
||
Investment Funds5 |
$57.02 |
$57.26 |
$52.62 |
(0.4) |
8.4 |
||
Sub-advisory, institutional and |
$8.20 |
$8.32 |
$6.41 |
(1.5) |
27.9 |
||
Total Mackenzie |
$65.22 |
$65.58 |
$59.03 |
(0.5) |
10.5 |
||
Investment Planning |
$5.45 |
$5.44 |
$5.02 |
0.2 |
8.6 |
4 |
Mackenzie sub-advisory mandates to Investment Planning Counsel mutual funds and investment in Mackenzie |
|
- |
Amounts eliminated within IGM Financial consolidated total assets were $1.8 billion at February 28, 2018 |
|
- |
Amounts eliminated within IGM Financial consolidated investment fund assets were $257.0 million at |
|
5 |
Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETFs |
|
6 |
IPC's total assets under management includes Counsel Mutual Funds and the Private Wealth Program. |
Preliminary average investment fund assets under management and average total assets under management for the quarter to date are set out in Table 3.
Table 3 - Average Assets under Management7 |
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($ billions) (unaudited) |
Quarter to Date |
||
IGM Financial Total Average Assets under Management8 |
$156.73 |
||
IGM Financial Investment Funds Average Assets under Management8 |
$150.02 |
||
Investors Group |
|||
Mutual Funds |
$87.88 |
||
Total Investors Group |
$87.88 |
||
Mackenzie |
|||
Mutual Funds |
$55.83 |
||
ETFs |
$1.54 |
||
Investment Funds9 |
$56.92 |
||
Sub-advisory, institutional and other |
$8.16 |
||
Total Mackenzie |
$65.08 |
||
Investment Planning Counsel10 |
$5.42 |
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 |
|
- |
Amounts eliminated within IGM Financial consolidated total assets were $1.7 billion at February 28, 2018. |
|
- |
Amounts eliminated within IGM Financial consolidated investment fund assets were $196.3 million at |
|
9 |
Mackenzie investment funds total assets under management exclude Mackenzie mutual fund investment in ETFs |
|
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 over $156 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.
SOURCE IGM Financial Inc.
Media Relations: Trish Tervitt, 416-967-2166, [email protected]; Investor Relations: Keith Potter, 204-956-8119, [email protected]
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