IGM Financial Inc. Announces July 2019 Investment Fund Sales and Total Assets Under Management

¹

Consolidated results eliminate double counting where business is reflected in multiple segments and excludes  $37.5 million in net new money by IG Wealth Management and IPC mutual fund investments in ETFs.

²

$138.8 million of net new money in ETFs by Mackenzie mutual funds.

³

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.

Table 2 - Assets under Management

($billions) (unaudited)

July 2019

June 2019

July 2018

% Change
Last Month

% Change
YOY

IGM Financial

Total Assets under Management⁴

$162.16

$162.33

$160.39

(0.1)

1.1

IGM Financial

Investment Funds

Assets under Management⁴

$157.18

$156.30

$153.95

0.6

2.1

IG Wealth Management

Mutual Funds

$90.56

$90.18

$89.57

0.4

1.1

Total IG Wealth Management

$90.56

$90.18

$89.57

0.4

1.1

Mackenzie

Mutual Funds

$59.21

$58.86

$57.39

0.6

3.2

ETFs

$3.81

$3.45

$2.78

10.4

37.1

Inter-product Eliminations⁵

($1.07)

($0.92)

($0.82)

16.3

30.5

Investment Funds

$61.95

$61.39

$59.35

0.9

4.4

Sub-advisory, institutional and
other⁶

$6.15

$7.22

$8.05

(14.8)

(23.6)

Total Mackenzie

$68.10

$68.61

$67.40

(0.7)

1.0

Investment Planning Counsel⁷

$5.38

$5.40

$5.60

(0.4)

(3.9)

⁴

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 $1.9 billion at July 31, 2019 ($1.9 billion at June 30, 2019 and $2.2 billion at July 31, 2018).

-

Amounts eliminated within IGM Financial consolidated investment fund assets were $709.4 million at July 31, 2019 ($665.8 million at June 30, 2019, $567.1 million at July 31, 2018).

⁵

Mackenzie mutual fund investment in ETFs of $1.1 billion as at July 31, 2019 ($923.5 million as at June 30, 2019 and $821.3 million as at July 31, 2018).

⁶

MD Financial Management re-assigned sub-advisory responsibilities totaling $1.2 billion on mandates advised upon by Mackenzie. The pro forma impact on Mackenzie's pre-tax earnings from these mandate changes is not meaningful.

⁷

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

Table 3 - Average Assets under Management⁸

($billions) (unaudited)

Quarter to Date

IGM Financial

Total Average Assets under Management⁹

$162.73

IGM Financial

Investment Funds Average Assets under Management⁹

$157.24

IG Wealth Management

Mutual Funds

$90.71

Total IG Wealth Management

$90.71

Mackenzie

Mutual Funds

$59.24

ETFs

$3.56

Inter-product Eliminations¹⁰

($1.00)

Investment Funds

$61.80

Sub-advisory, institutional and other

$6.68

Total Mackenzie

$68.48

Investment Planning Counsel¹¹

$5.41

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 $1.9 billion at July 31, 2019.

-

Amounts eliminated within IGM Financial consolidated investment fund assets were $680.1 million at July 31, 2019.

¹⁰

Mackenzie mutual fund investment in ETFs of $995.7 million as at July 31, 2019.

¹¹

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