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IGM Financial Inc. Announces April 2021 Record High Net Flows and Assets Under Management & Advisement

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WINNIPEG, MB, May 5, 2021 /CNW/ - IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary total consolidated net flows of $579 million during April 2021 as shown in Table 1. Total assets under management and advisement were $253.1 billion at April 30, 2021, compared with $248.5 billion at March 31, 2021, and $181.6 billion at April 30, 2020. Assets under management and advisement are shown in Table 2.

IGM Financial Inc. logo (CNW Group/IGM Financial Inc.)
IGM Financial Inc. logo (CNW Group/IGM Financial Inc.)

APRIL HIGHLIGHTS

IGM Financial - Record high assets under management & advisement of $253.1 billion, up 1.9% in the month and up 5.5% year to date. April 2021 net inflows of $579 million down from $2.8 billion in April 2020. April 2021 investment fund net sales of $517 million up from $86 million in 2020.

IG Wealth – Record high assets under advisement of $108.7 billion, up 1.5% in the month and up 5.2% year to date. April 2021 net inflows of $131 million up from net outflows of $28 million in April 2020 and is the best April result in over twenty years. April 2021 net sales of IGM managed products of $55 million is the second best in the last decade.

Mackenzie – Record high assets under management of $194.9 billion, up 1.7% in the month and up 5.3% year to date. April 2021 investment fund net sales were $539 million, of which $492 million was retail. This is an all-time record high, and an improvement from net sales of $199 million in 2020 of which $67 million was retail.

Table 1 - Gross and Net Flows
Please see www.igmfinancial.com for file with trended history.



Wealth Management


Asset Management


($ millions) (unaudited)

IG Wealth
Management

Investment
Planning Counsel

Total


Mackenzie(3)

IGM

Financial

For the month ended April 30, 2021

Net flows

130.7

65.5

196.4


442.6

578.5(3)










Mutual fund net sales

9.7

(31.8)

(22.1)


389.3

367.2


ETF net creations

-

-

-


149.4(1)

149.4


Investment fund net sales

9.7

(31.8)

(22.1)


538.7

516.6


Institutional SMA net sales

-

-

-


(96.1)

(96.1)


Managed asset net sales

9.7

(31.8)

(22.1)


442.6

420.5


Mackenzie Investment Fund net sales

45.5

15.0

60.5(3)













IGM Product net sales

55.2

(16.8)

38.4













Other dealer net flows

75.5

82.3

158.0


-

158.0









Gross flows








Mutual fund gross sales

930.8

57.1

987.9


1,052.1

2,040.0


Dealer gross inflows

1,054.5

398.0

1,452.5


-

1,452.5


Table 2 – Assets under Management and Advisement

($ millions) (unaudited)

April

2021

March

2021

% Change
Last Month

Wealth Management




IG Wealth Management




Assets under management

102,163

100,745

1.4%

Other assets under advisement

6,490

6,250

3.8%

Assets under advisement

108,653

106,995

1.5%

IPC




Assets under management

5,376

5,308

1.3%

Other assets under advisement

25,011

24,583

1.7%

Assets under advisement

30,387

29,891

1.7%

Total




Assets under management

107,539

106,053

1.4%

Other assets under advisement

31,490

30,823

2.2%

Assets under advisement

139,029

136,876

1.6%





Asset management




Mackenzie(2)




Total Mutual funds

59,712

58,137

2.7%

ETFs

4,363

4,174

4.5%

Investment funds

64,075

62,311

2.8%





Institutional SMA

54,058

53,213

1.6%





Total

118,133

115,524

2.3%

Sub-advisory to Wealth Management

76,766

76,041

1.0%

Total

194,899

191,565

1.7%





ETF's distributed to third parties

4,363

4,174

4.5%

ETF's held within IGM managed products

5,403

5,359

0.8%

Total ETFs

9,766

9,533

2.4%





Consolidated




Assets under management

225,672

221,577

1.8%

Other assets under advisement

27,421

26,897

1.9%

Assets under management and advisement(4)

253,093

248,474

1.9%

Preliminary average assets under management and advisement for the quarter to date are set out in Table 3.

Table 3 - Average Assets under Management and Advisement


($ millions) (unaudited)

Quarter to date 2021

Wealth Management


IG Wealth Management


Assets under management

102,667

Other assets under advisement

6,418

Assets under advisement

109,085

IPC


Assets under management

5,411

Other assets under advisement

24,728

Assets under advisement

30,139

Total


Assets under management

108,078

Other assets under advisement

31,136

Assets under advisement

139,214



Asset management


Mackenzie(2)


Mutual funds

59,607

ETFs

4,336

Investment funds

63,943

Institutional SMA

53,635

Total

117,578

Sub-advisory to Wealth Management

76,548

Total

194,126



ETFs distributed to third parties

4,336

ETFs held within IGM managed products

5,440

Total ETFs

9,776



Consolidated


Assets under management

225,656

Other assets under advisement

27,141

Assets under management and advisement(5)

252,797





1

ETF net creations excludes ($16.0) million in ETF net creations to IGM managed products.

2

Excludes sub-advisory to Wealth Management segment.

3

$60.5 million in Mackenzie investment fund net flows through the Wealth Management segment have been eliminated on consolidation.

4

Within total assets under management and advisement, $4.1 billion in Mackenzie investment funds distributed through the Wealth Management segment eliminates on consolidation at March 31, 2021. ($3.7 billion at March 31, 2021).

5

Within average total assets under management and advisement, $4.0 billion in Mackenzie mutual funds distributed through the Wealth Management segment eliminates on consolidation.

Glossary of Terms

Mutual fund gross sales, net sales and assets under management reflect the results of the mutual funds managed by the respective operating companies, and in the case of the Wealth Management segment also include other discretionary portfolio management services provided by the operating companies, including separately managed account programs.

"ETF's" represent exchange traded funds managed by Mackenzie.

Institutional SMA represents investment advisory and sub-advisory mandates to institutional investors through separately managed accounts.

"Other dealer net flows" and "other assets under advisement" represents financial savings products held within client accounts at the Wealth Management operating companies that are not invested in products or programs where these operating companies perform investment management activities. These savings products include investment funds managed by third parties, direct investment in equity and fixed income securities and deposit products."

"Assets under advisement" represents all savings products held within client accounts at the Wealth Management operating companies.

"Net flows" represents the total net contributions, in cash or in kind, to client accounts at the Wealth Management operating companies and the overall net sales to the Asset Management segment.

"Wealth Management" – Reflects the activities of operating companies that are principally focused on providing financial planning and related services to Canadian households. This segment includes the activities of IG Wealth Management and Investment Planning Counsel. These firms are retail distribution organizations who serve Canadian households through their securities dealers, mutual fund dealers and other subsidiaries licensed to distribute financial products and services. The majority of the revenues of this segment are derived from providing financial advice and distributing financial products and services to Canadian households. This segment also includes the investment management activities of these organizations, including mutual fund management and discretionary portfolio management services.

"Asset Management" – Reflects the activities of operating companies primarily focused on providing investment management services, and represents the operations of Mackenzie Investments. Investment management services are provided to a suite of investment funds that are distributed through third party dealers and financial advisors, and also through institutional advisory mandates to pension and other institutional investors.

IGM Financial Inc. is one of Canada's leading diversified wealth and asset management companies with approximately $253 billion in total assets under management and advisement. The company provides a broad range of financial planning and investment management services to help more than two million Canadians meet their financial goals. Its activities are carried out principally through IG Wealth Management, Mackenzie Investments and Investment Planning Counsel. IGM Financial is a member of the Power Corporation group of companies.

SOURCE IGM Financial Inc.

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