IGM Financial Inc. Announces June 2020 Investment Fund Sales and Total Assets Under Management and IG Wealth Management Assets Under Administration and Client Net Flows

*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. Net Client Flows is defined as net contributions to client accounts and includes IG investment funds, third party investment funds, equity and fixed income securities, high interest savings accounts and deposits held at IG Wealth Management.

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Consolidated results eliminate double counting where business is reflected in multiple segments and excludes $50.0 million in net new money by IG Wealth Management and IPC mutual fund investments in ETFs.

²

$249.3 million of net new money in ETFs by Mackenzie Investments mutual funds.

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

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During June 2020, an institutional investor purchased into Mackenzie ETFs resulting in net new money of $370 million.

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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:

-    Amounts eliminated within IGM Financial consolidated total assets were $2.4 billion at June 30, 2020 ($2.3 billion at May 31, 2020 and $1.9 billion at June 30, 2019).

-    Amounts eliminated within IGM Financial consolidated investment fund assets were $1.3 billion at June 30, 2020 ($1.3 billion at May 31, 2020, $666 million at June 30, 2019).

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Mackenzie mutual fund investment in ETFs of $2.2 billion as at June 30, 2020 ($1.9 billion as at May 31, 2020 and $924 million as at June 30, 2019).

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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:

-   Amounts eliminated within IGM Financial consolidated total assets were $2.3 billion at June 30, 2020.

-   Amounts eliminated within IGM Financial consolidated investment fund assets were $1.2 billion at June 30, 2020.

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Mackenzie mutual fund investment in ETFs of $1.9 billion as at June 30, 2020.

¹¹

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