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IGM Financial Inc. Announces October 2015 Mutual Fund Sales and Total Assets Under Management


/EINPresswire.com/ -- WINNIPEG, MANITOBA -- (Marketwired) -- 11/03/15 -- IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary total mutual fund net new money in October of ($116.3) million as shown in Table 1. Total assets under management were $134.2 billion at October 31, 2015, compared with $130.9 billion at September 30, 2015 and $140.1 billion at October 31, 2014. Mutual fund assets under management were $127.9 billion as at October 31, 2015, compared with $124.9 billion at September 30, 2015 and $124.8 billion at October 31, 2014. Assets under management are shown in Table 2.

                  
                  Table 1 - Mutual Funds Net New Money(i)
                  Month ended October 31, 2015
                  ($ millions) (unaudited)
                                          Investors                                       IGM
                                              Group    Mackenzie         Counsel Financial(1)
                                        ------------------------------------------------------
                                        ------------------------------------------------------
                  All Mutual Funds
                    Gross Sales              $588.1       $507.3           $61.2     $1,155.0
                    Net New Money              $6.6      ($138.8)(2)       $14.4      ($116.3)
                  Long Term Mutual Funds
                    Gross Sales              $498.1       $479.5           $58.8     $1,034.8
                    Net New Money            ($18.1)     ($144.4)(2)       $12.9      ($148.1)
                  
                  

(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)  Total Mutual Fund Gross Sales and Net New Money for the month ended
                       October 31, 2015 excluded $1.6 million and ($1.5) million respectively
                       in accounts invested in Mackenzie Financial Corporation funds held by
                       Investment Planning Counsel.
                  (2)  During October 2015, a third party program which include Mackenzie
                       mutual funds made fund allocation changes which resulted in redemptions
                       of $80.9 million.
                  
                  
                  
                  Table 2 - Assets under
                   Management                October September   October   % Change  % Change
                  ($ billions) (unaudited)      2015      2015      2014 Last Month       YOY
                                          ----------------------------------------------------
                                          ----------------------------------------------------
                  
                  Total Assets under
                   Management(3)             $134.22   $130.92   $140.09        2.5      (4.2)
                  
                  Mutual Fund Assets under
                   Management                $127.93   $124.90   $124.76        2.4       2.5
                  
                    Investors Group
                      Mutual Funds            $75.28    $73.53    $72.51        2.4       3.8
                    Mackenzie
                      Mutual Funds            $48.61    $47.42    $48.50        2.5       0.2
                      Sub-advisory,
                       institutional and
                       other                  $13.35    $12.87    $21.06        3.7     (36.6)
                                          ----------------------------------------------------
                      Total Mackenzie         $61.96    $60.29    $69.56        2.8     (10.9)
                                          ----------------------------------------------------
                    Counsel
                      Mutual Funds             $4.10     $4.01     $3.80        2.2       7.9
                  
                  (3)  Excludes assets managed by Mackenzie on behalf of Investors Group and
                       Investment Planning Counsel. These assets have a value of $7.1 billion
                       at October 31, 2015 ($6.9 billion at September 30, 2015 and $5.8
                       billion at October 31, 2014).
                  
                  

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(4)
                  ($ billions) (unaudited)                                     Quarter to Date
                                                                        ----------------------
                                                                        ----------------------
                  
                  Total Average Assets under Management(5)                             $133.67
                  
                  Mutual Fund Average Assets under Management                          $127.51
                  
                    Investors Group
                      Mutual Funds                                                      $75.01
                    Mackenzie
                      Mutual Funds                                                      $48.49
                      Sub-advisory, institutional and other                             $13.11
                                                                        ----------------------
                      Total Mackenzie                                                   $61.60
                                                                        ----------------------
                    Counsel
                      Mutual Funds                                                       $4.07
                  
                  (4)  Based on daily average mutual fund assets and month-end average
                       institutional, sub-advisory and other assets.
                  (5)  Excludes average assets of $7.0 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 approximately $134 billion in total assets under management. Its activities are carried out principally through Investors Group through a network of approximately 5,200 Consultants, Mackenzie Financial Corporation through a diversified network of third-party financial advisors and Investment Planning Counsel through a network of financial planners who are dedicated to serving the needs of their clients. IGM Financial Inc. is a member of the Power Financial Corporation group of companies.

Contacts:
Ron Arnst
Media Relations
(204) 956-3364
ron.arnst@igmfinancial.com