IGM Financial Inc. Announces July 2021 Record High Investment Fund Net Flows and Assets Under Management & Advisement

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WINNIPEG, MB, Aug. 4, 2021 /CNW/ - IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary total consolidated net flows of $527 million during July 2021 as shown in Table 1. Total assets under management and advisement were $265.2 billion at July 31, 2021, compared with $262.0 billion at June 30, 2021, and $194.1 billion at July 31, 2020. Assets under management and advisement are shown in Table 2.

IGM Financial Inc. (CNW Group/IGM Financial Inc.)
IGM Financial Inc. (CNW Group/IGM Financial Inc.)

JULY HIGHLIGHTS
IGM Financial - Record high assets under management & advisement of $265.2 billion, up 1.2% in the month and up 10.5% year to date. Total net inflows of $527 million up from $(17) million in July 2020. Record high investment fund net sales of $598 million during July 2021 up from $149 million in 2020.

IG Wealth – Record high assets under advisement of $113.5 billion, up 1.2% in the month and up 9.9% year to date. Record high net inflows of $348 million during July 2021 up from net inflows of $4 million in July 2020.

Mackenzie – Record high assets under management of $203.9 billion, up 1.1% in the month and up 10.1% year to date. Total net flows of $181 million up from $100 million in July 2020. Record high investment fund net sales were $420 million, of which $318 million was retail which is an improvement from net sales of $223 million in 2020 of which $184 million was retail.

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(3)

IGM

Financial

For the month ended July 31, 2021

Net flows

347.6

45.3

393.3


181.1

526.8(3)










Mutual fund net sales

187.5

(9.7)

177.8


339.7

517.5


ETF net creations

-

-



80.5(1)

80.5


Investment fund net sales

187.5

(9.7)

177.8


420.2

598.0


Institutional SMA net sales

-

-



(239.1)

(239.1)


Managed asset net sales

187.5

(9.7)

177.8


181.1

358.9


Mackenzie Investment Fund net sales

22.8

24.8

47.6 (3)













IGM Product net sales

210.3

15.1

225.4













Other dealer net flows

137.3

30.2

167.9



167.9









Gross flows








Mutual fund gross sales

922.9

60.7

983.6


899.7

1,883.3


Dealer gross inflows

1,073.4

374.3

1,447.7


-

1,447.7

Table 2 – Assets under Management and Advisement

($ millions) (unaudited)

July

2021

June

2021

% Change
Last Month

Wealth Management




IG Wealth Management




Assets under management

106,458

105,218

1.2%

Other assets under advisement

7,055

6,967

1.3%

Assets under advisement

113,513

112,185

1.2%

IPC




Assets under management

5,536

5,485

0.9%

Other assets under advisement

26,016

25,686

1.3%

Assets under advisement

31,552

31,171

1.2%





Total




Assets under management

111,994

110,703

1.2%

Other assets under advisement

33,060

32,642

1.3%

Assets under advisement

145,054

143,345

1.2%





Asset management




Mackenzie(2)




Total Mutual funds

62,743

61,717

1.7%

ETFs

4,989

4,889

2.0%

Investment funds

67,732

66,606

1.7%





Institutional SMA

56,701

56,307

0.7%





Total

124,433

122,913

1.2%

Sub-advisory to Wealth Management

79,503

78,788

0.9%

Total

203,936

201,701

1.1%





ETF's distributed to third parties

4,989

4,889

2.0%

ETF's held within IGM managed products

5,812

5,748

1.1%

Total ETFs

10,801

10,637

1.5%





Consolidated




Assets under management

236,427

233,616

1.2%

Other assets under advisement

28,731

28,390

1.2%

Assets under management and advisement(4)

265,158

262,006

1.2%

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 2021

Wealth Management


IG Wealth Management


Assets under management

106,135

Other assets under advisement

7,063

Assets under advisement

113,198

IPC


Assets under management

5,531

Other assets under advisement

25,830

Assets under advisement

31,361

Total


Assets under management

111,666

Other assets under advisement

32,884

Assets under advisement

144,550



Asset Management


Mackenzie(2)


Mutual funds

62,300

ETFs

5,004

Investment funds

67,304

Institutional SMA

56,504

Total

123,808

Sub-advisory to Wealth Management

79,149

Total

202,957



ETFs distributed to third parties

5,004

ETFs held within IGM managed products

5,757

Total ETFs

10,761



Consolidated


Assets under management

235,474

Other assets under advisement

28,593

Assets under management and advisement(5)

264,067



1

ETF net creations excludes $2.8 million in ETF net creations to IGM managed products.

2

Excludes sub-advisory to Wealth Management segment.

3

$47.6 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, $4.3 billion in Mackenzie investment funds distributed through the Wealth Management segment eliminates on consolidation at July 31, 2021. ($4.3 billion at June 30, 2021).

5

Within average total assets under management and advisement, $4.3 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 $265 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.

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