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

August, 04 2022 11:01 AM IGM Financial Inc.

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

Canada NewsWire

WINNIPEG, MB , Aug. 4, 2022 /CNW/ - IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary total consolidated net inflows of $73 million during July 2022 as shown in Table 1. Total assets under management and advisement were $252.9 billion at July 31, 2022 , compared with $242.1 billion at June 30, 2022 , and $265.2 billion at July 31, 2021 . Assets under management and advisement are shown in Table 2.

JULY HIGHLIGHTS

IGM Financial – Assets under management & advisement of $252.9 billion were up 4.5% in the month. Total net inflows were $73 million compared to net inflows of $716 million in July 2021 . Investment fund net redemptions were $264 million compared to net sales of $588 million in July 2021.

IG Wealth Management – Assets under advisement of $110.4 billion were up 4.7% in the month. Total net inflows were $267 million compared to net inflows of $346 million in July 2021 .

Mackenzie – Assets under management of $192.5 billion were up 4.2% in the month. Total net outflows were $226 million compared to net inflows of $371 million in July 2021 . Investment fund net redemptions were $178 million compared to net sales of $410 million in July 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 July 31, 2022
Net flows















Mutual fund net sales
(71.7)
(14.9)
(86.6)

(163.8)
(250.4)

ETF net creations
-
-
-

(13.8) ¹⁾
(13.8)

Investment fund net sales
(71.7)
(14.9)
(86.6)

(177.6)
(264.2)

Institutional SMA net sales
-
-
-

(48.5)
(48.5)

Managed asset net sales
(71.7)
(14.9)
(86.6)

(226.1)
(312.7)

Mackenzie Investment fund net sales
0.7
(3.0)
(2.3) ²⁾












IGM Product net sales
(71.0)
(17.9)
(88.9)












Other net flows
337.6
47.6
385.6


385.6








Net flows
266.6
29.7
296.7

(226.1)
72.9 ⁽ ⁴⁾








Gross flows







Mutual fund gross sales
639.6
33.8
673.4

411.3
1,084.7

Dealer gross inflows
949.0
279.2
1,228.2


1,228.2

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



IG Wealth Management



Assets under management
100,966
96,603
4.5 %
Other assets under advisement
9,453
8,871
6.6 %
Assets under advisement
110,419
105,474
4.7 %
Investment Planning Counsel



Assets under management
4,846
4,635
4.6 %
Other assets under advisement
25,053
24,057
4.1 %
Assets under advisement
29,899
28,692
4.2 %
Total



Assets under management
105,812
101,238
4.5 %
Other assets under advisement
34,499
32,921
4.8 %
Assets under advisement
140,311
134,159
4.6 %




Asset management



Mackenzie



Mutual funds
56,263
53,576
5.0 %
ETFs
5,467
5,368
1.8 %
Investment funds
61,730
58,944
4.7 %




Institutional SMA
6,488
6,344
2.3 %
Sub-advisory to Canada Life
48,495
46,575
4.1 %
Total Institutional SMA
54,983
52,919
3.9 %
Total (ex sub-advisory to Wealth Management)
116,713
111,863
4.3 %
Sub-advisory to Wealth Management
75,816
72,855
4.1 %
Total
192,529
184,718
4.2 %




ETF's distributed to third parties
5,467
5,368
1.8 %
ETF's held within IGM managed products
6,640
6,230
6.6 %
Total ETFs
12,107
11,598
4.4 %




Consolidated



Assets under management
222,525
213,101
4.4 %
Other assets under advisement
30,363
28,982
4.8 %
Assets under management and advisement ⁽⁴⁾
252,888
242,083
4.5 %

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
97,992
Other assets under advisement
9,062
Assets under advisement
107,054
Investment Planning Counsel

Assets under management
4,701
Other assets under advisement
24,595
Assets under advisement
29,296
Total

Assets under management
102,693
Other assets under advisement
33,649
Assets under advisement
136,342


Asset Management

Mackenzie

Mutual funds
54,445
ETFs
5,356
Investment funds
59,801
Institutional SMA
6,416
Sub-advisory to Canada Life
47,535
Total Institutional SMA
53,951


Total (ex sub-advisory to Wealth Management)
113,752
Sub-advisory to Wealth Management
74,223
Total
187,975


ETFs distributed to third parties
5,356
ETFs held within IGM managed products
6,404
Total ETFs
11,760


Consolidated

Assets under management
216,445
Other assets under advisement
29,612
Assets under management and advisement ⁽⁵⁾
246,057

1
ETF net creations excludes $42.0 million in ETF net creations to IGM managed products.
2
Excludes sub-advisory to Canada Life and the Wealth Management segment.
3
($2.3) 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 July 31, 2022. ($3.9 billion at June 30, 2022).
5
Within average total assets under management and advisement, $4.0 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 $253 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.

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/August2022/04/c5313.html

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

Twitter

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