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

Thu Oct 1, 7:08 PM

TORONTO, Oct. 1 /CNW/ - Mackenzie Financial Corporation (Mackenzie Investments), part of IGM Financial Inc. (TSX: IGM.TO), today announced preliminary total assets under management and fund sales for the month ending September 30, 2009. Assets under management were $62.0 billion at September 30, 2009, as compared to $64.7 billion at September 30, 2008 and $54.7 billion at December 31, 2008.

    
    -------------------------------------------------------------------------
    Total Assets Under Management              2009         2008
    (AUM) ($millions)                     September    September    % Change
    -------------------------------------------------------------------------
    Mutual Funds:
    -------------------------------------------------------------------------
      Long-term mutual funds                $38,146      $39,653       (3.8)%
    -------------------------------------------------------------------------
      Money market mutual funds               1,694        2,094      (19.1)%
    -------------------------------------------------------------------------
    Total Mutual Funds AUM                   39,840       41,747       (4.6)%
    -------------------------------------------------------------------------
    Institutional, sub-advised and other     22,190       23,001       (3.5)%
    -------------------------------------------------------------------------
    Total Assets Under Management1          $62,030      $64,748       (4.2)%
    -------------------------------------------------------------------------
    (1) Total assets under management include assets acquired from Saxon
        Funds Management Limited on September 25, 2008



    -------------------------------------------------------------------------
    Sales                                                    2009
    ($millions)                                           September
    -------------------------------------------------------------------------
                                                                     Net New
    Mutual Funds:                               Sales  Redemptions   Money(2)
    -------------------------------------------------------------------------
      Long-term mutual funds                   $287.4       $447.6   $(160.2)
    -------------------------------------------------------------------------
      Money market mutual funds                  92.3        102.3     (10.0)
    -------------------------------------------------------------------------
    Total Mutual Fund Sales                     379.7        549.9    (170.2)
    -------------------------------------------------------------------------
    Other retail managed products                 0.0          0.0       0.0
    -------------------------------------------------------------------------
    Total Fund Sales                           $379.7       $549.9   $(170.2)
    -------------------------------------------------------------------------
    (2) Net New Money is defined as Sales less Redemptions and is consistent
        with the terminology used by IFIC

For additional information about Mackenzie Investments' average assets under management, please see the IGM Financial press release, which will be available on October 2, 2009. 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 $62.0 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.TO) group of companies. IGM Financial is one of Canada's premier financial services companies with $118 billion in total assets under management.

Contacts

Trish Tervit
Environics Communications Inc.
(416) 969-2809
ttervit@environicspr.com