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IGM Financial Inc. Announces May 2010 Mutual Fund Sales and Total Assets Under Management

^{Published on 2010-06-02 13:00:19 - Market Wire}
 

WINNIPEG, MANITOBA--(Marketwire - June 2, 2010) - IGM Financial Inc. (IGM) (TSX:IGM) today reported preliminary total mutual fund net new money in May of ($219.7) million as shown in Table 1. Total assets under management were $118.5 billion at May 31, 2010, compared with $108.5 billion at May 31, 2009 and $120.5 billion at December 31, 2009. Mutual fund assets under management were $98.6 billion as at May 31, 2010, compared with $89.5 billion at May 31 2009 and $100.4 billion at December 31, 2009. Assets under management are shown in Table 2.

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Table 1 - Mutual Funds Net New Money (i) May 2010 
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(millions) (unaudited) Counsel 
 Investors Portfolio IGM
 Group Mackenzie Services Financial
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All Mutual Funds
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 Gross Sales $ 429.0 $ 390.2 $ 33.6 $ 852.8
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 Net New Money (i) ($33.5) ($188.4) $ 2.2 (1) ($219.7)(1)
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Long Term Mutual Funds
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 Gross Sales $ 374.0 $ 339.1 $ 30.9 $ 744.0
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 Net New Money (i) ($18.1) ($175.9) $ 0.5 (1) ($193.5)(1)
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(i) 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).

(1) includes $8.2 million in net new money of Counsel Portfolio Services
 mutual funds invested in third party managers' funds.


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Table 2 - Assets under Management May 31, 2010 May 31, 2009 % Change
(billions) (unaudited) YOY
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Mutual Funds
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 Investors Group $56.81 $51.36 10.6
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 Mackenzie $39.63 $36.38 8.9
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 Counsel Portfolio Services $2.20(2) $1.80(2) 22.2
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Mutual Fund Assets under Management $98.64 $89.54 10.2
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Private, institutional, sub-advised
 and other - Mackenzie $19.87(3) $18.96(3) 4.8
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Total Assets under Management $118.51 $108.50 9.2
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(2) includes $363 million (2009 - $191 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.


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Table 3 - Average Assets under Management (4)
(billions) (unaudited) Quarter to Date
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Mutual Funds
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 Investors Group $58.45
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 Mackenzie $40.91
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 Counsel Portfolio Services $2.24
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Average Mutual Funds Assets under Management $101.60
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Private, institutional, sub-advised
 and other - Mackenzie $20.35 (3)
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Total Average Assets under Management $121.95
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(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.