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Winnipeg – July 5, 2010: IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary total mutual fund net new money in June of $232.8 million as shown in Table 1. Total assets under management were $115.7 billion at June 30, 2010, compared with $109.7 billion at June 30, 2009 and $120.5 billion at December 31, 2009. Mutual fund assets under management were $96.5 billion as at June 30, 2010, compared with $91.6 billion at June 30, 2009 and $100.4 billion at December 31, 2009. Assets under management are shown in Table 2.
| Table 1 - Mutual Funds Net New Money * |
June 2010 |
(millions) (unaudited) |
Investors
Group |
Mackenzie |
Counsel Portfolio Services |
IGM Financial |
| All Mutual Funds |
|
|
|
|
|
|
|
| Gross Sales |
$440.0 |
|
$869.1 |
$42.1 |
|
$1,351.2 |
|
| Net New Money * |
($22.5) |
|
$239.4 |
$15.9 |
1 |
$232.8 |
1 |
| Long Term Mutual Funds |
|
|
|
|
|
|
|
| Gross Sales |
$383.6 |
|
$828.0 |
$36.8 |
|
$1,248.4 |
|
| Net New Money * |
($5.4) |
|
$274.1 |
$13.9 |
1 |
$282.6 |
1 |
* Mutual Fund Net New Money is defined as Gross Sales less Gross Redemptions and is consistent with the terminology used by The Investment Funds Institute of Canada (IFIC).
1includes ($3.6) million in net new money of Counsel Portfolio Services mutual funds invested in third party managers’ funds.
Table 2 - Assets under Management
(billions) (unaudited) |
June 30, 2010 |
June 30, 2009 |
% Change YOY |
| Mutual Funds |
|
|
|
|
|
| Investors Group |
$55.47 |
|
$52.50 |
|
5.7 |
| Mackenzie |
$38.87 |
|
$37.23 |
|
4.4 |
| Counsel Portfolio Services |
$2.17 |
2 |
$1.84 |
2 |
17.9 |
| Mutual Fund Assets under Management |
$96.51 |
|
$91.57 |
|
5.4 |
Private, institutional, sub-advised
and other - Mackenzie |
$19.18 |
3 |
$18.08 |
3 |
6.1 |
| Total Assets under Management |
$115.69 |
|
$109.65 |
|
5.5 |
2includes $351 million (2009 - $208 million) of Counsel mutual fund assets invested in third party managers’ funds.
Preliminary average mutual fund assets under management and average total assets under management for the quarter to date are set out in Table 3.
Table 3 - Average Assets under Management 4
(billions) (unaudited) |
Quarter to Date |
| Mutual Funds |
|
|
| Investors Group |
$57.85 |
|
| Mackenzie |
$40.43 |
|
| Counsel Portfolio Services |
$2.22 |
|
| Average Mutual Funds Assets under Management |
$100.50 |
|
| Private, institutional, sub-advised and other - Mackenzie |
$20.10 |
3 |
| Total Average Assets under Management |
$120.60 |
|
3 excludes assets managed by Mackenzie on behalf of Investors Group and Investment Planning Counsel.
4 based on daily average mutual fund assets and month-end average private, institutional, sub-advisory and other assets.
For more information on mutual fund activity, please refer to press releases issued by Investors Group Inc., Mackenzie Investments and Investment Planning Counsel Inc.
Additional information about mutual fund assets and fund flows will be available on the Investment Funds Institute of Canada (IFIC) web site (www.ific.ca) on approximately the 15th of each month as part of a Canadian industry-wide release of monthly statistics.
IGM Financial Inc. is one of Canada's premier personal financial services companies, and one of the country’s largest managers and distributors of mutual funds and other managed asset products, with over $115 billion in total assets under management. Its activities are carried out principally through Investors Group, Mackenzie Financial Corporation and Investment Planning Counsel. IGM Financial Inc. is a member of the Power Financial Corporation group of companies.
| For more information contact:
Ron Arnst
Media Relations
(204) 956-3364
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