IGM Financial Inc. : Announces December 2016 Mutual Fund Sales and Total Assets Under Management
January 04, 2017 at 12:52 pm EST
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WINNIPEG, MANITOBA--(Marketwired - Jan 4, 2017) - IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total mutual fund net new money in December of $112.6 million as shown in Table 1. Total assets under management were $141.8 billion at December 31, 2016, compared with $140.1 billion at November 30, 2016 and $133.7 billion at December 31, 2015. Mutual fund assets under management were $137.1 billion at December 31, 2016, compared with $135.4 billion at November 30, 2016 and $127.5 billion at December 31, 2015. Assets under management are shown in Table 2.
Table 1 - Mutual Funds Net New Money*
Month ended December 31, 2016
($ millions) (unaudited)
Investors Group
Mackenzie
Counsel
IGM Financial
All Mutual Funds
Gross Sales
$676.9
$700.6
$75.4
$1,452.9
Net New Money
$37.6
$74.7
$0.3
$112.6
Long Term Mutual Funds
Gross Sales
$589.7
$664.9
$71.7
$1,326.3
Net New Money
$9.5
$65.2
($2.5
)
$72.2
*
Mutual Fund Net New Money is defined as Gross Sales less Gross Redemptions and is consistent with the terminology used by The Investment Funds Institute of Canada (IFIC).
Table 2 - Assets under Management
($ billions) (unaudited)
December
2016
November
2016
December
2015
% Change Last Month
% Change YOY
Total Assets under Management1
$141.83
$140.13
$133.65
1.2
6.1
Mutual Fund Assets under Management
$137.05
$135.43
$127.52
1.2
7.5
Investors Group
Mutual Funds
$81.24
$80.24
$74.90
1.2
8.5
Mackenzie
Mutual Funds
$51.31
$50.73
$48.44
1.1
5.9
Sub-advisory, institutional and other2
$12.72
$12.55
$13.21
1.4
(3.7
)
Total Mackenzie
$64.03
$63.28
$61.65
1.2
3.9
Counsel
Mutual Funds
$4.50
$4.46
$4.18
0.9
7.7
1
Excludes assets managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel. These assets had a value of $7.9 billion at December 31, 2016 ($7.9 billion at November 30, 2016 and $7.1 billion at December 31, 2015).
2
Includes $113.3 million of Exchange Traded Fund assets managed by Mackenzie at December 31, 2016. ($84.0 million at November 30, 2016).
Preliminary average mutual fund assets under management and average total assets under management for the quarter to date are set out in Table 3.
Table 3 - Average Assets under Management 3
($ billions) (unaudited)
Quarter to Date
Total Average Assets under Management 4
$140.20
Mutual Fund Average Assets under Management
$134.71
Investors Group
Mutual Funds
$79.74
Mackenzie
Mutual Funds
$50.51
Sub-advisory, institutional and other
$13.34
Total Mackenzie
$63.85
Counsel
Mutual Funds
$4.46
3
Based on daily average mutual fund assets and month-end average institutional, sub-advisory and other assets.
4
Excludes average assets of $7.9 billion managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel.
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 $140 billion in total assets under management. Its activities are carried out principally through Investors Group's network of Consultants located across Canada, Mackenzie Financial Corporation's network of third-party financial advisors and Investment Planning Counsel's network of financial planners dedicated to serving the needs of their clients.
A MEMBER OF THE POWER FINANCIAL CORPORATION GROUP OF COMPANIES.
IGM Financial Inc. is a Canada-based wealth and asset management company. The Company operates through three segments: Wealth Management, Asset Management and Strategic Investments and Other. The Wealth Management segment includes the activities of operating companies that are principally focused on providing financial planning and related services to Canadian households. The Asset Management segment includes the activities of operating companies primarily focused on providing investment management services and represents the operations of Mackenzie Investments. Investment management services are provided to a suite of investment funds. The Strategic Investments and Other segment primarily represent the key strategic investments made by the Company, including China Asset Management Co., Ltd., Great-West Lifeco Inc., Rockefeller Capital Management, Northleaf Capital Group Ltd., Wealthsimple Financial Corp., and Portage Ventures LPs, as well as Unallocated capital.