IGM:CC - IGM FINANCIAL INC. ANNOUNCES AUGUST 2022 ASSETS UNDER MANAGEMENT & ADVISEMENT AND NET FLOWS

September, 06 2022 11:41 AM IGM Financial Inc.

IGM FINANCIAL INC. ANNOUNCES AUGUST 2022 ASSETS UNDER MANAGEMENT & ADVISEMENT AND NET FLOWS

Canada NewsWire

WINNIPEG, MB , Sept. 6, 2022 /CNW/ - IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary total consolidated net inflows of $27 million during August 2022 as shown in Table 1. Total assets under management and advisement were $247.2 billion at August 31, 2022 , compared with $252.9 billion at July 31, 2022 , and $271.2 billion at August 31, 2021 . Assets under management and advisement are shown in Table 2.

AUGUST HIGHLIGHTS

IGM Financial – Assets under management & advisement of $247.2 billion were down 2.2% in the month. Total net inflows were $27 million compared to net inflows of $784 million in August 2021 . Investment fund net redemptions were $178 million compared to net sales of $575 million in August 2021.

IG Wealth Management – Assets under advisement of $108.6 billion were down 1.7% in the month. Total net inflows were $179 million compared to net inflows of $375 million in August 2021 .

Mackenzie – Assets under management of $187.9 billion were down 2.4% in the month. Total net outflows were $204 million compared to net inflows of $307 million in August 2021 . Investment fund net redemptions were $149 million compared to net sales of $363 million in August 2021.

Table 1 - Gross and Net Flows Please see www.igmfinancial.com for file with trended history.


Wealth Management

Asset Management

($ millions) (unaudited)
IG Wealth Management
Investment Planning Counsel
Total

Mackenzie ⁽²⁾⁽³⁾
IGM Financial
For the month ended August 31, 2022
Net flows















Mutual fund net sales
(24.8)
(3.7)
(28.5)

(136.3)
(164.8)

ETF net creations
-
-
-

(13.0) ⁽¹⁾
(13.0)

Investment fund net sales
(24.8)
(3.7)
(28.5)

(149.3)
(177.8)

Institutional SMA net sales
-
-
-

(54.5)
(54.5)

Managed asset net sales
(24.8)
(3.7)
(28.5)

(203.8)
(232.3)

Mackenzie Investment fund net sales
4.3
(6.1)
(1.8) ⁽²⁾












IGM Product net sales
(20.5)
(9.8)
(30.3)












Other net flows
199.4
58.8
259.3


259.3








Net flows
178.9
49.0
229.0

(203.8)
27.0 ⁽³ ⁾








Gross flows







Mutual fund gross sales
728.3
52.5
780.8

451.6
1,232.4

Dealer gross inflows
966.9
315.6
1,282.5


1,282.5

Table 2 – Assets under Management and Advisement
($ millions) (unaudited)
August 2022
July 2022
% Change Last Month
Wealth Management



IG Wealth Management



Assets under management
99,039
100,966
(1.9 %)
Other assets under advisement
9,540
9,453
0.9 %
Assets under advisement
108,579
110,419
(1.7 %)
Investment Planning Counsel



Assets under management
4,746
4,846
(2.1 %)
Other assets under advisement
24,604
25,053
(1.8 %)
Assets under advisement
29,350
29,899
(1.8 %)
Total



Assets under management
103,785
105,812
(1.9 %)
Other assets under advisement
34,137
34,499
(1.0 %)
Assets under advisement
137,922
140,311
(1.7 %)




Asset management



Mackenzie



Mutual funds
54,869
56,263
(2.5 %)
ETFs
5,330
5,467
(2.5 %)
Investment funds
60,199
61,730
(2.5 %)




Institutional SMA
6,415
6,488
(1.1 %)
Sub-advisory to Canada Life
46,736
48,495
(3.6 %)
Total Institutional SMA
53,151
54,983
(3.3 %)
Total (ex sub-advisory to Wealth Management)
113,350
116,713
(2.9 %)
Sub-advisory to Wealth Management
74,505
75,816
(1.7 %)
Total
187,855
192,529
(2.4 %)




ETF's distributed to third parties
5,330
5,467
(2.5 %)
ETF's held within IGM managed products
6,519
6,640
(1.8 %)
Total ETFs
11,849
12,107
(2.1 %)




Consolidated



Assets under management
217,135
222,525
(2.4 %)
Other assets under advisement
30,086
30,363
(0.9 %)
Assets under management and advisement ⁽⁴⁾
247,221
252,888
(2.2 %)

Preliminary average assets under management and advisement for the quarter to date are set out in Table 3.

Table 3 - Average Assets under Management and Advisement

($ millions) (unaudited)
Quarter to date 2022
Wealth Management

IG Wealth Management

Assets under management
99,690
Other assets under advisement
9,342
Assets under advisement
109,032
Investment Planning Counsel

Assets under management
4,776
Other assets under advisement
24,684
Assets under advisement
29,460
Total

Assets under management
104,466
Other assets under advisement
34,019
Assets under advisement
138,485


Asset Management

Mackenzie

Mutual funds
55,424
ETFs
5,418
Investment funds
60,842
Institutional SMA
6,416
Sub-advisory to Canada Life
47,269
Total Institutional SMA
53,685


Total (ex sub-advisory to Wealth Management)
114,527
Sub-advisory to Wealth Management
74,469
Total
188,996


ETFs distributed to third parties
5,418
ETFs held within IGM managed products
6,490
Total ETFs
11,908


Consolidated

Assets under management
218,993
Other assets under advisement
29,953
Assets under management and advisement ⁽⁵⁾
248,946

ETF net creations excludes ($54.7) million in ETF net creations to IGM managed products.

Excludes sub-advisory to Canada Life and the Wealth Management segment.

($1.8) million in Mackenzie investment fund net flows through the Wealth Management segment have been eliminated on consolidation.

⁴

Within total assets under management and advisement, $4.1 billion in Mackenzie investment funds distributed through the Wealth Management segment eliminates on consolidation at August 31, 2022. ($4.1 billion at July 31, 2022).

⁵

Within average total assets under management and advisement, $4.1 billion in Mackenzie mutual funds distributed through the Wealth Management segment eliminates on consolidation.

Glossary of Terms

Mutual fund gross sales, net sales and assets under management reflect the results of the mutual funds managed by the respective operating companies, and in the case of the Wealth Management segment also include other discretionary portfolio management services provided by the operating companies, including separately managed account programs.

"ETF's" represent exchange traded funds managed by Mackenzie.

Institutional SMA represents investment advisory and sub-advisory mandates to institutional investors through separately managed accounts.

"Other dealer net flows" and "other assets under advisement" represents financial savings products held within client accounts at the Wealth Management operating companies that are not invested in products or programs where these operating companies perform investment management activities. These savings products include investment funds managed by third parties, direct investment in equity and fixed income securities and deposit products."

"Assets under advisement" represents all savings products held within client accounts at the Wealth Management operating companies.

"Net flows" represents the total net contributions, in cash or in kind, to client accounts at the Wealth Management operating companies and the overall net sales to the Asset Management segment.

"Wealth Management" – Reflects the activities of operating companies that are principally focused on providing financial planning and related services to Canadian households. This segment includes the activities of IG Wealth Management and Investment Planning Counsel. These firms are retail distribution organizations who serve Canadian households through their securities dealers, mutual fund dealers and other subsidiaries licensed to distribute financial products and services. The majority of the revenues of this segment are derived from providing financial advice and distributing financial products and services to Canadian households. This segment also includes the investment management activities of these organizations, including mutual fund management and discretionary portfolio management services.

"Asset Management" – Reflects the activities of operating companies primarily focused on providing investment management services, and represents the operations of Mackenzie Investments. Investment management services are provided to a suite of investment funds that are distributed through third party dealers and financial advisors, and also through institutional advisory mandates to pension and other institutional investors.

IGM Financial Inc. is one of Canada's leading diversified wealth and asset management companies with approximately $247 billion in total assets under management and advisement. The company provides a broad range of financial planning and investment management services to help more than two million Canadians meet their financial goals. Its activities are carried out principally through IG Wealth Management, Mackenzie Investments and Investment Planning Counsel. IGM Financial is a member of the Power Corporation group of companies.

SOURCE IGM Financial Inc.

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Company Name:	IGM Financial Inc.
Stock Symbol:	IGM:CC
Market:	TSXC
Website:	igmfinancial.com

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IGM FINANCIAL INC. ANNOUNCES AUGUST 2022 ASSETS UNDER MANAGEMENT & ADVISEMENT AND NET FLOWS