IGM Financial Inc. Announces December 2019 Investment Fund Sales and Total Assets Under Management

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Consolidated results eliminate double counting where business is reflected in multiple segments and excludes $0.5 million in net new money by IG Wealth Management and IPC mutual fund investments in ETFs.

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$334.8 million of net new money in ETFs by Mackenzie Investments mutual funds.

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During December 2019, an institutional client which includes Mackenzie mutual funds within its investment offerings made fund allocation changes which resulted in gross and net sales of $48.2 million.

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Preliminary Counsel mutual funds net new money do not include sales/redemptions in the IPC Private Wealth program. IPC Private Wealth program flows are included in figures presented in MD&A.

*Mutual Fund Net New Money is defined as Gross Sales less Gross Redemptions and is consistent with the terminology used in the Management Discussion and Analysis (MD&A) issued by IGM Financial.

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Mackenzie sub-advisory mandates to Investment Planning Counsel mutual funds and investment in Mackenzie investment funds by mutual funds managed by IG Wealth Management or Investment Planning Counsel are reported within Mackenzie's results and are eliminated within IGM Financial consolidated results:  

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Amounts eliminated within IGM Financial consolidated total assets were $1.9 billion at December 31, 2019 ($2.0 billion at November 30, 2019 and $1.9 billion at December 31, 2018).

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Amounts eliminated within IGM Financial consolidated investment fund assets were $780 million at December 31, 2019 ($780 million at November 30, 2019 and $488 million at December 31, 2018).

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Mackenzie mutual fund investment in ETFs of $1.6 billion as at December 31, 2019 ($1.3 billion as at November 30, 2019 and $849 million as at December 31, 2018).

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IPC's total assets under management includes Counsel Mutual Funds and the Private Wealth Program.

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Based on daily average investment fund assets and month-end average institutional, sub-advisory and other assets.

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Mackenzie sub-advisory mandates to Investment Planning Counsel mutual funds and investment in Mackenzie investment funds by mutual funds managed by IG Wealth Management or Investment Planning Counsel are reported within Mackenzie's results and are eliminated within IGM Financial consolidated results:

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Amounts eliminated within IGM Financial consolidated total assets were $1.9 billion at December 31, 2019.

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Amounts eliminated within IGM Financial consolidated investment fund assets were $753 million at December 31, 2019.

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Mackenzie mutual fund investment in ETFs of $1.3 billion as at December 31, 2019.

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IPC's total assets under management includes Counsel Mutual Funds and the Private Wealth Program.