IGIFF - IGM Financial Inc. (IGIFF) Q1 2024 Earnings Call Transcript
2024-05-03 14:55:17 ET
IGM Financial Inc. (IGIFF)
Q1 2024 Earnings Conference Call
May 3, 2024 8:00 AM ET
Company Participants
Kyle Martens - Treasurer and Head of Investor Relations
James O'Sullivan - President and Chief Executive Officer
Damon Murchison - President and Chief Executive Officer of IG Wealth Management
Luke Gould - President and Chief Executive Officer of Mackenzie Investments
Keith Potter - Executive Vice President and Chief Financial Officer
Conference Call Participants
Geoffrey Kwan - RBC Capital Markets
Nick Priebe - CIBC Capital Markets
Jack Cohen - National Bank Financial
Presentation
Operator
Thank you for standing by. This is the conference operator. Welcome to the IGM Financial First Quarter 2024 Analyst Call and Webcast. As a reminder, all participants are in listen-only mode, and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. [Operator Instructions]
I would now like to turn the conference over to Kyle Martens, Treasurer and Head of Investor Relations. Please go ahead sir.
Kyle Martens
Thank you, Carl. Good morning, everyone, and welcome to IGM Financial's 2024 first quarter earnings call. Joining me on the call today, we have James O'Sullivan, President and CEO, IGM Financial; Damon Murchison, President and CEO, IG Wealth Management; Luke Gould, President and CEO, Mackenzie Investments; and Keith Potter, Executive Vice President and CFO, IGM Financial.
Before we get started, I would like to draw your attention to our cautions concerning forward-looking statements on Slide 3 of the presentation. Slides 4 and 5 summarize non-IFRS financial measures and other financial measures used in this material. And on Slide 6, we provide a list of documents that are available on our website related to IGM’s first quarter results.
I'll now turn it over to James.
James O'Sullivan
All right, good morning, everyone, and thank you Kyle. Turning to Slide 8. We delivered a record high first quarter adjusted EPS of E0.94, up 8% year-over-year, driven and part by strong asset growth during the past 12 months.
AUM&A including our proportionate share of strategic investments reached $422 billion at the end of the first quarter. This is about 21% relative to the same time last year. Both our Wealth and Asset Management segments contributed to asset growth with each and every company increasing their AUM&A over the past year.
I’d remind you that our reported Q1 2024 net outflows of $128 million exclude our strategic investments each of which experienced positive net flows during the quarter. ...
IGM Financial Inc. (IGIFF) Q1 2024 Earnings Call Transcript