Winnipeg, MB – February 2, 2005: IGM Financial Inc. (IGM) (TSX: IGI) today reported total mutual fund assets under management as at January 31ST, 2005 and net mutual fund sales for the month of January. Total mutual fund assets under management were $83.4-billion. Total net mutual fund redemptions were $61.7-million including net sales at Investors Group of $13.1-million, net redemptions at Mackenzie Financial of $90.1-million and net sales at Investment Planning Counsel of $15.3-million.
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IGM FINANCIAL INC.
Mutual Fund Assets under Management (billions) |
| |
January
2005 |
December
2004 |
% Change
Month |
| IGM Financial Inc. |
$83.36 |
$83.14 |
0.3 |
| Investors Group |
$44.53 |
$44.51 |
0.0 |
| Mackenzie |
$37.31 |
$37.13 |
0.5 |
| Investment Planning Counsel |
$ 1.52 |
$1.50 |
1.3 |
| Net Sales (millions) |
January 2005 |
January 2004 |
|
All Funds |
Long Term Funds |
All Funds |
Long Term Funds |
| IGM Financial Inc. |
($61.7)3 |
($18.7)3
|
($33.8) |
$42.0 |
| Investors Group |
$13.1 |
$2.3 |
$19.2 |
$15.8 |
| Mackenzie |
($90.1) |
($35.9) |
($53.0) |
$26.2 |
| IPC |
$15.33 |
$14.93 |
N/A2 |
N/A2 |
1 includes $394.5-million in Investment Planning Counsel mutual fund assets invested in other managers' mutual funds.
2 IGM Financial Inc. acquired Investment Planning Counsel on May 10, 2004
3 includes $0.45-million in net sales of Investment Planning Counsel mutual funds invested in other managers' mutual funds.
Investors Group announced mutual fund sales of $412.2-million, redemptions of $399.1-million and net sales of $13.1-million for the month of January 2005. Gross sales, redemptions and net redemptions of long-term funds for the month of January 2005 were $348.8-million, $346.5-million and $2.3-million.
Mackenzie Financial Corporation announced mutual fund sales of $551.8-million, redemptions of $641.9-million and net redemptions of $90.1-million for the month. Gross sales, redemptions and net redemptions of long-term funds for the month of December 2004 were $471.2-million, $507.1-million and $35.9-million.
Investment Planning Counsel reported mutual fund sales of its asset management division, Counsel Wealth Management, of $33.8-million, redemptions of $18.5-million and net sales of $15.3-million for the month of January 2005. Gross sales, redemptions and net sales of long-term funds for the month of January were $32.5-million, $17.6-million and $14.9-million.
For more information on mutual fund activity, please refer to individual press releases for each reporting Company issued yesterday.
IGM Financial Inc. is one of Canada's premier personal financial services companies, and the country’s largest manager and distributor of mutual funds and other managed asset products. Its activities are carried out principally through Investors Group, Mackenzie Financial and Investment Planning Counsel. IGM Financial Inc. is a member of the Power Financial Corporation group of companies.
Media contacts:
Ron Arnst
Media Relations
(204) 956-3364
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Mike Van Soelen
Environics Communications
(416) 969-2717
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