WINNIPEG, MANITOBA -- (Marketwired) -- 06/03/14 -- IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary total mutual fund net new money in May of $57.2-million as shown in Table 1. Total assets under management were $138.9-billion at May 31, 2014, compared with $138.3-billion at April 30, 2014 and $127.1-billion at May 31, 2013. Mutual fund assets under management were $123.8-billion as at May 31, 2014, compared with $123.3-billion at April 30, 2014 and $109.7-billion at May 31, 2013. Assets under management are shown in Table 2.
Table 1 - Mutual Funds Net New Money (i)
Month ended March 31, 2014
Investors IGM
($millions) (unaudited) Group Mackenzie Counsel Financial(1)
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All Mutual Funds
Gross Sales $569.5 $558.0 $56.0 $1,182.3
Net New Money $11.1 $27.9 $19.1 $57.2
Long Term Mutual Funds
Gross Sales $513.0 $527.8 $48.7 $1,088.3
Net New Money $11.3 $27.3 $12.8 $50.5
(i)Mutual Fund Net New Money is defined as Gross Sales less Gross Redemptions and is consistent with the terminology used by The Investment Funds Institute of Canada (IFIC).
Table 2 - Assets under Management(2)
($ billions) May April May % Change % Change
(unaudited) 2014 2014 2013 Last Month YOY
--------------------------------------------------------
Total Assets under
Management $138.87 $138.25 $127.13 0.4 9.2
Mutual Fund Assets
under Management $123.75 $123.30 $109.68 0.4 12.8
Investors Group
Mutual Funds $71.59 $71.46 $63.67 0.2 12.4
Mackenzie
Mutual Funds $48.54 $48.27 $42.93 0.6 13.1
Sub-advisory,
institutional
and other $20.71 $20.49 $22.04 1.1 (6.0)
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Total Mackenzie $69.25 $68.76 $64.97 0.7 6.6
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Counsel
Mutual Funds $3.66 $3.61 $3.12 1.4 17.3
Preliminary average mutual fund assets under management and average total assets under management for the quarter to date are set out in Table 3.
Table 3 - Average Assets under Management(3,4)
($ billions) (unaudited) Quarter to Date
-----------------
Total Average Assets under Management $137.92
Mutual Fund Average Assets under Management $122.95
Investors Group
Mutual Funds $71.17
Mackenzie
Mutual Funds $48.22
Sub-advisory, institutional and other $20.50
-----------------
Total Mackenzie $68.72
-----------------
Counsel
Mutual Funds $3.61
(1) Total Mutual Fund Gross Sales and Net New Money for the month ended May
31, 2014 excluded $1.2-million and $0.9-million respectively in accounts
invested in Mackenzie Financial Corporation funds held by Investment
Planning Counsel.
(2) Excludes assets managed by Mackenzie on behalf of Investors Group and
Investment Planning Counsel. These assets have a value of $5.6-billion
at May 31, 2014 ($5.6-billion at April 30, 2014 and $4.6-billion at May
31, 2013)
(3) Excludes average assets of $5.6-billion managed by Mackenzie on behalf
of Investors Group and Investment Planning Counsel.
(4) Based on daily average mutual fund assets and month-end average private,
institutional, sub-advisory and other assets.
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 $138 billion in total assets under management. Its activities are carried out principally through Investors Group through a network of approximately 4,800 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
