IGM Financial Inc. Announces September 2009 Mutual Fund Sales and Total Assets Under Management
Fri Oct 2, 12:56 PMWINNIPEG, MANITOBA--(Marketwire - Oct. 2, 2009) - IGM Financial Inc. (IGM) (TSX: IGM.TO) today reported preliminary total mutual fund net new money in September of ($145.7) million as shown in Table 1. Total assets under management were $117.9 billion at September 30, 2009, up from $101.7 billion at December 31, 2008 and compared to $118.5 billion at September 30, 2008. Mutual fund assets under management were $98.4 billion as at September 30, 2009, up from $85.0 billion at December 31, 2008 and compared to $98.0 billion at September 30, 2008. Assets under management are shown in Table 2.
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Table 1 - Mutual Funds Net New September 2009
Money(i)
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(millions) (unaudited) Investors Mackenzie Counsel IGM
Group Group Financial
of Funds
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All Mutual Funds
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Gross Sales $384.0 $379.7 $32.4 $796.1
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Net New Money(i) $10.7 ($170.2) $13.8(1) ($145.7)(1)
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Long Term Mutual Funds
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Gross Sales $324.5 $287.4 $22.8 $634.7
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Net New Money(i) $25.4 ($160.2) $6.2(1) ($128.6)(1)
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(i) 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).
(1) includes $8 million in net new money of Counsel Group of Funds mutual
funds invested in other managers' funds.
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Table 2 - Assets under September September % Change
Management 30, 2009 30, 2008 YOY
(billions) (unaudited)
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Mutual Funds
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Investors Group $56.56 $54.31 4.1
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Mackenzie $39.84 $41.75 (4.6)
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Counsel Group of Funds $2.03(2) $1.93(2) 5.2
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Mutual Fund Assets under $98.43 $97.99 0.4
Management
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Private, institutional, $19.47(3) $20.52(3) (5.1)
sub-advised and other
- Mackenzie
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Total Assets under Management $117.90 $118.51 (0.5)
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(2) includes $248 million (2008 - $450 million) of Counsel mutual fund
assets invested in other managers' funds.
Preliminary average mutual fund assets under management and average total assets under management for the quarter to date are set out in Table 3.
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Table 3 - Average Assets under Quarter to Date
Management (4) (billions) (unaudited)
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Mutual Funds
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Investors Group $54.22
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Mackenzie $38.25
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Counsel Group of Funds $1.92
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Average Mutual Funds Assets under $94.39
Management
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Private, institutional, sub-advised $18.68(3)
and other - Mackenzie
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Total Average Assets under Management $113.07
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(3) excludes assets managed by Mackenzie and Investment Planning Counsel on
behalf of Investors Group.
(4) based on daily average mutual fund assets and month-end average private,
institutional, sub-advisory and other assets.
For more information on mutual fund activity, please refer to press releases issued by Investors Group Inc., Mackenzie Investments and Investment Planning Counsel Inc. Additional information about mutual fund assets and fund flows will be available on the Investment Funds Institute of Canada (IFIC) web site ( www.ific.ca) on approximately the 15th of each month as part of a Canadian industry-wide release of monthly statistics. 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 $118 billion in total assets under management. Its activities are carried out principally through Investors Group, Mackenzie Financial Corporation and Investment Planning Counsel. IGM Financial Inc. is a member of the Power Financial Corporation group of companies. ContactsRon Arnst IGM Financial Inc.
Media Relations
(204) 956-3364
ron.arnst@investorsgroup.com
158.94 (1.43%)
