Mackenzie Investments reports total assets under management and fund sales for October
Mon Nov 2, 5:32 PMTORONTO, Nov. 2 /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 October 31, 2009. Assets under management were $61.4 billion at October 31, 2009, as compared to $57.2 billion at October 31, 2008 and $54.7 billion at December 31, 2008.
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Total Assets Under Management 2009 2008
(AUM) ($millions) October October % Change
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Mutual Funds:
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Long-term mutual funds $37,616 $35,030 7.4%
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Money market mutual funds 1,654 2,070 (20.1)%
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Total Mutual Funds AUM 39,270 37,100 5.8%
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Institutional, sub-advised and other 22,117 20,121 9.9%
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Total Assets Under Management $61,387 $57,221 7.3%
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Sales 2009
($millions) October
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Net New
Mutual Funds: Sales Redemptions Money(1)
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Long-term mutual funds(2) $357.4 $539.0 $(181.6)
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Money market mutual funds 79.9 95.8 (15.9)
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Total Mutual Fund Sales 437.3 634.8 (197.5)
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Other retail managed products 0.0 0.0 0.0
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Total Fund Sales $437.3 $634.8 $(197.5)
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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 redemption and rebalance transactions by five
institutional investors. The impact of the redemption and rebalance
transactions was net redemptions of $66.2 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 November 3, 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 $61.4 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.TO) group of companies. IGM Financial is one of Canada's premier financial services companies with $116 billion in total assets under management.
ContactsTrish TervitEnvironics Communications Inc.
(416) 969-2809
ttervit@environicspr.com
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