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

July, 06 2022 12:25 PM IGM Financial Inc.

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

Canada NewsWire

WINNIPEG, MB , July 6, 2022 /CNW/ - IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary total consolidated net outflows of $389 million during June 2022 as shown in Table 1. Total assets under management and advisement were $242.1 billion at June 30, 2022 , compared with $255.8 billion at May 31, 2022 , and $262.0 billion at June 30, 2021 . Assets under management and advisement are shown in Table 2.

JUNE HIGHLIGHTS
IGM Financial – Assets under management & advisement of $242.1 billion were down 5.4% in the month. Total net outflows were $389 million compared to net inflows of $753 million in June 2021 . Investment fund net redemptions were $519 million compared to net sales of $704 million in June 2021.

IG Wealth Management – Assets under advisement of $105.5 billion were down 5.1% in the month. Total net inflows were $174 million compared to net inflows of $299 million in June 2021 .

Mackenzie – Assets under management of $184.7 billion were down 5.6% in the month. Total net outflows were $623 million compared to net inflows of $518 million in June 2021 . Investment fund net redemptions were $447 million compared to net sales of $528 million in June 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 June 30, 2022
Net flows















Mutual fund net sales
(57.1)
(15.0)
(72.1)

(402.8)
(474.9)

ETF net creations
-
-
-

(44.4) ⁽¹⁾
(44.4)

Investment fund net sales
(57.1)
(15.0)
(72.1)

(447.2)
(519.3)

Institutional SMA net sales
-
-
-

(175.3)
(175.3)

Managed asset net sales
(57.1)
(15.0)
(72.1)

(622.5)
(694.6)

Mackenzie Investment fund net sales
(0.1)
(11.2)
(11.3) ⁽²⁾












IGM Product net sales
(57.2)
(26.2)
(83.4)












Other net flows
230.8
74.4
305.5


305.5








Net flows
173.6
48.2
222.1

(622.5)
(389.1) ⁽⁴⁾








Gross flows







Mutual fund gross sales
835.5
54.8
890.3

502.3
1,392.6

Dealer gross inflows
1,051.7
370.5
1,422.2


1,422.2

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



IG Wealth Management



Assets under management
96,603
102,098
(5.4 %)
Other assets under advisement
8,871
8,994
(1.4 %)
Assets under advisement
105,474
111,092
(5.1 %)
Investment Planning Counsel



Assets under management
4,635
4,912
(5.6 %)
Other assets under advisement
24,057
25,318
(5.0 %)
Assets under advisement
28,692
30,230
(5.1 %)
Total



Assets under management
101,238
107,010
(5.4 %)
Other assets under advisement
32,921
34,304
(4.0 %)
Assets under advisement
134,159
141,314
(5.1 %)




Asset management



Mackenzie



Mutual funds
53,576
56,878
(5.8 %)
ETFs
5,368
5,605
(4.2 %)
Investment funds
58,944
62,483
(5.7 %)




Institutional SMA
6,344
6,792
(6.6 %)
Sub-advisory to Canada Life
46,575
49,357
(5.6 %)
Total Institutional SMA
52,919
56,149
(5.8 %)
Total (ex sub-advisory to Wealth Management)
111,863
118,632
(5.7 %)
Sub-advisory to Wealth Management
72,855
77,083
(5.5 %)
Total
184,718
195,715
(5.6 %)




ETF's distributed to third parties
5,368
5,605
(4.2 %)
ETF's held within IGM managed products
6,230
6,768
(7.9 %)
Total ETFs
11,598
12,373
(6.3 %)




Consolidated



Assets under management
213,101
225,642
(5.6 %)
Other assets under advisement
28,982
30,129
(3.8 %)
Assets under management and advisement ⁽⁴⁾
242,083
255,771
(5.4 %)

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
101,810
Other assets under advisement
8,890
Assets under advisement
110,700
Investment Planning Counsel

Assets under management
4,927
Other assets under advisement
25,379
Assets under advisement
30,306
Total

Assets under management
106,737
Other assets under advisement
34,260
Assets under advisement
140,997


Asset Management

Mackenzie

Mutual funds
56,891
ETFs
5,636
Investment funds
62,527
Institutional SMA
6,758
Sub-advisory to Canada Life
49,193
Total Institutional SMA
55,951


Total (ex sub-advisory to Wealth Management)
118,478
Sub-advisory to Wealth Management
77,062
Total
195,540


ETFs distributed to third parties
5,636
ETFs held within IGM managed products
6,715
Total ETFs
12,351


Consolidated

Assets under management
225,215
Other assets under advisement
30,069
Assets under management and advisement ⁽⁵⁾
255,284

ETF net creations excludes ($73.2) million in ETF net creations to IGM managed products.

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

($11.3) 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, $3.9 billion in Mackenzie investment funds distributed through the Wealth Management segment eliminates on consolidation at June 30, 2022. ($4.2 billion at May 31, 2022).

⁵

Within average total assets under management and advisement, $4.2 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 $242 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/July2022/06/c4675.html

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

Twitter

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