Mackenzie Investments reports total assets under management and fund sales
for August

TORONTO, Sept. 1 /CNW/ - Mackenzie Financial Corporation (Mackenzie Investments), part of IGM Financial Inc. (TSX: IGM), today announced preliminary total assets under management and fund sales for the month ending August 31, 2010. Assets under management were $62.4 billion at August 31, 2010, as compared to $60.2 billion at August 31, 2009.

    
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    Total Assets Under Management    2010        2009
    (AUM) ($millions)               August      August         % Change
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    Mutual Funds:
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      Long-term mutual funds       $38,465     $36,978             4.0%
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      Money market mutual funds      1,147       1,733          (33.8)%
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    Total Mutual Funds AUM          39,612      38,711             2.3%
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    Institutional, sub-advised
     and other                      22,753      21,490             5.9%
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    Total Assets Under Management  $62,365     $60,201             3.6%
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    Sales                                          2010 August
    ($millions)
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    Mutual Funds:                    Sales    Redemptions   Net New Money (1)
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      Long-term mutual funds (2)    $305.8      $477.5         $(171.7)
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      Money market mutual funds       25.7        42.9           (17.2)
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    Total Mutual Fund Sales          331.5       520.4          (188.9)
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    Other retail managed products      0.0         0.0             0.0
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    Total Fund Sales                $331.5      $520.4         $(188.9)
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    (1) Net New Money is defined as Sales less Redemptions and is consistent
    with the terminology used by IFIC.
    (2) Sales and Redemptions of long-term mutual funds for the month were
    higher as a result of rebalance transactions by two institutional
    investors. The impact of the rebalance transactions resulted in net
    redemptions of $58.4 million, which is reflected in the net new money
    total for the month.
    

For additional information about Mackenzie Investments' average assets under management, please see the IGM Financial press release, which will be available on September 2, 2010. Additional information about Mackenzie Investments' assets and fund flows will be available on the Investment Funds Institute of Canada's website (www.ific.ca) on approximately the 15th of each month as part of a Canadian industry-wide release of monthly statistics.

Mackenzie Investments: Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $62.4 billion in assets under management, Mackenzie Investments distributes its services through a diversified network of third-party financial advisors. Mackenzie Investments is a member of the IGM Financial Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier financial services companies with over $118 billion in total assets under management.

For further information: Trish Tervit, Environics Communications Inc., 416-969-2809, [email protected]