IGIFF - IGM Financial Inc. Announces January 2020 Investment Fund Sales and Total Assets Under Management

Table 1 - Net New Money
Month ended January 31, 2020

() (unaudited)

IG Wealth
Management

Mackenzie
Investments

Investment
Planning
Counsel⁴

Intercompany
Eliminations¹

IGM
Financial

Mutual Funds

Gross Sales

$801.0

$1,195.4

$69.3

$2,065.7

Net New Money

($82.3)

$266.7 ³

($23.4)

$161.0

ETFs

Net New Money

$172.1

$172.1

Inter-product Eliminations

($101.0)²

($13.0)

($114.0)

Consolidated

Net New Money

($82.3)

$337.8

($23.4)

($13.0)

$219.1

¹

Consolidated results eliminate double counting where business is reflected in multiple segments and excludes $13.0 million in net new money by IG Wealth Management and IPC mutual fund investments in ETFs.

²

$101.0 million of net new money in ETFs by Mackenzie Investments mutual funds.

³

During January 2020, an institutional investor which includes Mackenzie mutual funds within its investment offerings made fund allocation changes which resulted in gross and net sales of $201.4 million.

⁴

Preliminary Counsel mutual funds net new money do not include sales/redemptions in the IPC Private Wealth program. IPC Private Wealth program flows are included in figures presented in MD&A.

*

Mutual Fund Net New Money is defined as Gross Sales less Gross Redemptions and is consistent with the terminology used in the Management Discussion and Analysis (MD&A) issued by IGM Financial.

Table 2 - Assets under Management

() (unaudited)

January
2020

December
2019

January
2019

% Change
Last Month

% Change
YOY

IGM Financial

Total Assets under Management⁵

$168.87

$166.81

$154.33

1.2

9.4

IGM Financial

Investment Funds

Assets under Management⁵

$163.82

$161.76

$148.46

1.3

10.3

IG Wealth Management

Mutual Funds

$94.08

$93.16

$86.21

1.0

9.1

Total IG Wealth Management

$94.08

$93.16

$86.21

1.0

9.1

Mackenzie Investments

Mutual Funds

$61.86

$60.84

$55.32

1.7

11.8

ETFs

$4.99

$4.75

$3.16

5.1

57.9

Inter-product Eliminations⁶

($1.73)

($1.60)

($0.93)

8.1

86.0

Investment Funds

$65.12

$63.99

$57.55

1.8

13.2

Sub-advisory, institutional and other

$6.23

$6.21

$7.35

0.3

(15.2)

Total Mackenzie Investments

$71.35

$70.20

$64.90

1.6

9.9

Investment Planning Counsel⁷

$5.42

$5.39

$5.27

0.6

2.8

⁵

Mackenzie sub-advisory mandates to Investment Planning Counsel mutual funds and investment in Mackenzie investment funds by mutual funds managed by IG Wealth Management or Investment Planning Counsel are reported within Mackenzie's results and are eliminated within IGM Financial consolidated results:

-

Amounts eliminated within IGM Financial consolidated total assets were $2.0 billion at January 31, 2020 ($1.9 billion at December 31, 2019 and $2.0 billion at January 31, 2019).

-

Amounts eliminated within IGM Financial consolidated investment fund assets were $803 million at January 31, 2020 ($780 million at December 31, 2019, $564 million at January 31, 2019).

⁶

Mackenzie mutual fund investment in ETFs of $1.7 billion as at January 31, 2020 ($1.6 billion as at December 31, 2019 and $928 million as at January 31, 2019).

⁷

IPC's total assets under management includes Counsel Mutual Funds and the Private Wealth Program.

Table 3 - Average Assets under Management⁸

() (unaudited)

Quarter to Date

IGM Financial

Total Average Assets under Management⁹

$169.16

IGM Financial

Investment Funds Average Assets under Management⁹

$164.11

IG Wealth Management

Mutual Funds

$94.40

Total IG Wealth Management

$94.40

Mackenzie Investments

Mutual Funds

$61.84

ETFs

$4.89

Inter-product Eliminations¹⁰

($1.66)

Investment Funds

$65.07

Sub-advisory, institutional and other

$6.22

Total Mackenzie Investments

$71.29

Investment Planning Counsel¹¹

$5.44

⁸

Based on daily average investment fund assets and month-end average institutional, sub-advisory and other assets.

⁹

Mackenzie sub-advisory mandates to Investment Planning Counsel mutual funds and investment in Mackenzie investment funds by mutual funds managed by IG Wealth Management or Investment Planning Counsel are reported within Mackenzie's results and are eliminated within IGM Financial consolidated results:

-

Amounts eliminated within IGM Financial consolidated total assets were $2.0 billion at January 31, 2020.

-

Amounts eliminated within IGM Financial consolidated investment fund assets were $797 million at January 31, 2020.

¹⁰

Mackenzie mutual fund investment in ETFs of $1.7 billion as at January 31, 2020.

¹¹

IPC's total assets under management includes Counsel Mutual Funds and the Private Wealth Program.