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Mackenzie Investments reports total assets under management and fund sales for August

^{Published on 2010-09-01 15:25:37 - Market Wire}
 

 ------------------------------------------------------------------------- Total Assets Under Management 2010 2009 (AUM) ($millions) August August % Change ------------------------------------------------------------------------- Mutual Funds: ------------------------------------------------------------------------- Long-term mutual funds $38,465 $36,978 4.0% ------------------------------------------------------------------------- Money market mutual funds 1,147 1,733 (33.8)% ------------------------------------------------------------------------- Total Mutual Funds AUM 39,612 38,711 2.3% ------------------------------------------------------------------------- Institutional, sub-advised and other 22,753 21,490 5.9% ------------------------------------------------------------------------- Total Assets Under Management $62,365 $60,201 3.6% ------------------------------------------------------------------------- ------------------------------------------------------------------------- Sales 2010 August ($millions) ------------------------------------------------------------------------- Mutual Funds: Sales Redemptions Net New Money (1) ------------------------------------------------------------------------- Long-term mutual funds (2) $305.8 $477.5 $(171.7) ------------------------------------------------------------------------- Money market mutual funds 25.7 42.9 (17.2) ------------------------------------------------------------------------- Total Mutual Fund Sales 331.5 520.4 (188.9) ------------------------------------------------------------------------- Other retail managed products 0.0 0.0 0.0 ------------------------------------------------------------------------- Total Fund Sales $331.5 $520.4 $(188.9) ------------------------------------------------------------------------- (1) Net New Money is defined as Sales less Redemptions and is consistent with the terminology used by IFIC. (2) Sales and Redemptions of long-term mutual funds for the month were higher as a result of rebalance transactions by two institutional investors. The impact of the rebalance transactions resulted in net redemptions of $58.4 million, which is reflected in the net new money total for the month.