IGM Financial Inc. announces December 2018 investment fund sales and total assets under management

IG Wealth

Management

Mackenzie

Investment

Planning

Counsel³

Intercompany
Eliminations¹

IGM
Financial

Mutual Funds

Gross Sales

$645.1

$679.6

$56.3

$1,381.0

Net New Money

($88.5)

($174.7)

($86.6)

($349.8)

ETFs

Net New Money

($117.8)

($117.8)

Mutual Fund
Investment in ETF

($47.0)²

$68.3

$21.3

Consolidated

Net New Money

($88.5)

($339.5)

($86.6)

$68.3

($446.3)

¹  Consolidated results eliminate double counting where business is reflected in multiple segments and excludes ($68.3) million in net new money by IG Wealth Management and IPC mutual fund investments in ETFs.

²  $47.0 million of net new money in ETFs by Mackenzie mutual funds.

³  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. In December 2018, IPC reallocated holdings in its Private Wealth program out of its mutual funds resulting in a large decrease in the mutual fund net new money.

($billions) (unaudited)

December

2018

November

2018

December

2017

% Change
Last Month

% Change

YOY

IGM Financial

Total Assets under Management⁴

$149.07

$155.15

$156.51

(3.9)

(4.8)

IGM Financial

Investment Funds

Assets under Management⁴

$143.28

$149.19

$149.82

(4.0)

(4.4)

IG Wealth Management

Mutual Funds

$83.14

$86.27

$88.01

(3.6)

(5.5)

Total IG Wealth Management

$83.14

$86.27

$88.01

(3.6)

(5.5)

Mackenzie

Mutual Funds

$53.41

$55.77

$55.61

(4.2)

(4.0)

ETFs

$2.95

$3.14

$1.30

(6.1)

126.9

Mutual Fund Investment in ETF⁵

($0.85)

($0.82)

($0.37)

3.7

129.7

Investment Funds

$55.51

$58.09

$56.54

(4.4)

(1.8)

Sub-advisory, institutional
   and other

$7.22

$7.44

$7.97

(3.0)

(9.4)

Total Mackenzie

$62.73

$65.53

$64.51

(4.3)

(2.8)

Investment Planning Counsel⁶

$5.13

$5.31

$5.38

(3.4)

(4.6)

⁴

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 $1.9 billion at December 31, 2018 ($2.0 billion at November 30, 2018 and $1.4 billion at December 31, 2017).

-

Amounts eliminated within IGM Financial consolidated investment fund assets were $487.9 million at December 31, 2018 ($483.8 million at November 30, 2018, $110.1 million at December 31, 2017).

⁵

Mackenzie mutual fund investment in ETFs of $848.5 million as at December 31, 2018 ($824.2 million as at November 30, 2018 and $367.2 million as at December 31, 2017).

⁶

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

($billions) (unaudited)

Quarter to Date

IGM Financial

Total Average Assets under Management⁸

$152.98

IGM Financial

Investment Funds Average Assets under Management⁸

$146.99

IG Wealth Management

Mutual Funds

$85.13

Total IG Wealth Management

Mackenzie

Mutual Funds

$54.94

ETFs

$3.02

Mutual Fund Investment in ETF⁹

($0.82)

Investment Funds

$57.14

Sub-advisory, institutional and other

$7.49

Total Mackenzie

$64.63

Investment Planning Counsel¹⁰

$5.28

⁷ Based on daily average investment fund assets and month-end average institutional, sub-advisory and other assets.

⁸ 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 $2.1 billion at December 31, 2018.

-      Amounts eliminated within IGM Financial consolidated investment fund assets were $552.1 million at December 31, 2018.

⁹ Mackenzie mutual fund investment in ETFs of $818.7 million as at December 31, 2018.

¹⁰ IPC's total assets under management includes Counsel Mutual Funds and the Private Wealth Program.