IGM Financial Inc. Announces Record Net Flows of Investment Funds, Assets Under Management and Advisory in June 2021 | 2021-07-06 | Press Releases

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WINNIPEG, MB, July 6, 2021 / CNW / – IGM Financial Inc. (IGM) (TSX: IGM) today announced preliminary total consolidated net flows of $ 694 million during June 2021 as shown in Table 1. The total assets under management and advice were $ 262.2 billion at June 30, 2021, compared to $ 256.1 billion at May 31, 2021, and $ 188.3 billion at June 30, 2020. Assets under management and advice are presented in Table 2.

HIGHLIGHTS OF JUNE

IGM Financial *– High record of assets under management and advice of $ 262.2 billion, up 2.3% over the month and 9.3% since the start of the year. Total net inflows of $ 694 million from $ 291 million in june 2020. Record net investment fund sales of $ 711 million during June 2021 from $ 276 million in 2020. Record net investment fund sales of $ 1.9 billion during the quarter from $ 494 million in 2020.

IG Wealth – Record high assets under the guidance of $ 112.2 billion, up 2.3% over the month and 8.6% since the start of the year. Record net inflows of $ 299 million during June 2021 from net outflows of $ 43 million in june 2020. Record net inflows of $ 670 million during the quarter up compared to the net outflows of $ 62 million in 2020

Mackenzie * – High record of assets under management $ 201.7 billion, up 2.2% over the month and 8.9% since the start of the year. Total net flows of $ 461 million from $ 325 million in june 2020. June 2021 net sales of investment funds were $ 535 million, whose $ 445 million was retail, which is an improvement over net sales of $ 337 million in 2020 including $ 230 million was retail. Total net flows of $ 1.9 billion in the quarter from $ 3.1 billion in 2020. Record net investment fund sales of $ 1.7 billion in the quarter, of which $ 1.4 billion was retail, which is an improvement over net sales of $ 579 million in 2020 including $ 409 million was retail.

Table 1 – Gross and net flows

Please see www.igmfinancial.com for the file with historical trends

Wealth management

Active

Management

($ millions) (unaudited)

IG Wealth

Management

Investment

Planning advisor

Total

Mackenzie(3)

IGM

Financial

For the month ended June 30, 2021

Net flows

299.1

(24.1)

275.6

461.3

694.2(3)

Net mutual fund sales

185.8

(10.0)

175.8

356.7

532.5

Net ETF creation

178.1(1)

178.1

Net sales of investment funds

185.8

(10.0)

175.8

534.8

710.6

Institutional SMA net sales(6)

(73.5)

(73.5)

Net sales of assets under management

185.8

(10.0)

175.8

461.3

637.1

Mackenzie Investment Fund

net sales

31.7

11.0

42.7(3)

Net sales of IGM products

217.5

1.0

218.5

Net flows from other dealers

81.6

(25.1)

57.1

57.1

Gross flows

Gross mutual fund sales

979.9

68.7

1048.6

981.5

2 030.1

Gross collection from dealers

1149.0

378.6

1,527.6

1,527.6

Table 2 – Assets under management and advice

($ millions) (unaudited)

June

2021

May

2021

% Switch

Last month

Wealth management

IG Wealth Management

Assets under management

105,218

103,003

2.2%

Other assets in consulting

6,967

6,674

4.4%

Active in consulting

112,185

109,677

2.3%

CIB

Assets under management

5 485

5 388

1.8%

Other assets in consulting

25 840

25,198

2.5%

Active in consulting

31,325

30,586

2.4%

Total

Assets under management

110,703

108,391

2.1%

Other assets in consulting

32,796

31,862

2.9%

Active in consulting

143,499

140 253

2.3%

Asset Management

Mackenzie(2)

Total mutual funds

61,717

60,179

2.6%

AND F

4 889

4,632

5.5%

Investment Funds

66,606

64 811

2.8%

Institutional ADM

56,307

55 215

2.0%

Total

122,913

120,026

2.4%

Wealth management sub-advisor

78 788

77,318

1.9%

Total

201,701

197 344

2.2%

ETFs distributed to third parties

4 889

4,632

5.5%

ETFs held in products managed by IGM

5,748

5 496

4.6%

Total ETFs

10 637

10.128

5.0%

Consolidated

Assets under management

233 616

228,417

2.3%

Other assets in consulting

28 544

27 726

3.0%

Assets under management and advice(4)

262 160

256,143

2.3%

The interim average assets under management and guidance for the quarter to date are presented in Table 3.

Table 3 – Average assets under management and advice

($ millions) (unaudited)

Quarter to date 2021

Wealth management

IG Wealth Management

Assets under management

103,068

Other assets in consulting

6 599

Active in consulting

109,667

CIB

Assets under management

5,402

Other assets in consulting

25 124

Active in consulting

30,526

Total

Assets under management

108,470

Other assets in consulting

31 713

Active in consulting

140,183

Asset Management

Mackenzie(2)

Mutual fund

60 100

AND F

4,523

Investment Funds

64 623

Institutional ADM

54,698

Total

119,321

Wealth management sub-advisor

77,261

Total

196,582

ETFs distributed to third parties

4,523

ETFs held in products managed by IGM

5,508

Total ETFs

10,031

Consolidated

Assets under management

227,791

Other assets in consulting

27,616

Assets under management and advice(5)

255,407

*

In June 2020, an institutional investor purchased Mackenzie ETFs, which generated a net inflow of new money of $ 370 million, which is excluded from the figures presented.

During the second quarter of 2020, Mackenzie integrated $ 2.6 billion in sub-advisers and institutional gains from various clients. These gains were spread across a wide range of investment strategies, including global equity, US equity, fixed income and currency overlay strategies.

1

ETF net creation excludes $ 129.5 million in ETF net creation for products managed by IGM.

2

Excludes sub-advisers in the Wealth Management sector.

3

Mackenzie Investment Fund’s net flows of $ 42.7 million through the Wealth Management segment were eliminated on consolidation.

4

Within total assets under management and advice, $ 4.3 billion of Mackenzie investment funds distributed by the Wealth Management segment are eliminated upon consolidation as at June 30, 2021 ($ 4.1 billion as of May 31, 2021).

5

Of the average total assets under management and advice, $ 4.1 billion in Mackenzie mutual funds distributed by the Wealth Management segment eliminate on consolidation.

Glossary of terms

Gross sales, net sales and assets under management of mutual funds 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 programs separately managed accounts.

” AND F “ represent exchange traded funds managed by Mackenzie.

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

“Other net concessionary flows” and “other advisory assets” represents financial savings products held on client accounts of operating wealth management companies that are not invested in products or programs in which these operating companies carry out investment management activities. These savings products include investment funds managed by third parties, direct investments in equities and fixed income securities and deposit products.

“Assets under advisement” represents all savings products held on customer accounts of operational Wealth Management companies.

“Net flows” represents the total of net contributions, in cash or in kind, to the accounts receivable of the Wealth Management operating companies and the overall net turnover of the Asset Management segment.

“Wealth management” – Reflects the activities of operating companies that are primarily 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 companies are retail distribution organizations that serve Canadian households through their stock brokers, mutual fund brokers and other subsidiaries licensed to distribute financial products and services. The majority of revenues in this sector come from the provision of financial advice and the distribution of 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 activities of Mackenzie Investments. Investment management services are provided to a range of investment funds which are distributed through third party financial brokers and advisers, as well as through institutional advisory mandates to pension and other institutional investors.

IGM Financial Inc. is one of the from Canada main diversified wealth and asset management companies with around $ 262 billion of total assets under management and advice. The company offers a wide range of financial planning and investment management services to help more than two million Canadians achieve their financial goals. Its business is carried out primarily through IG Wealth Management, Mackenzie Investments and Investment Planning Counsel. IGM La Financière is a member of the Power Corporation group of companies.

SOURCE IGM Financial Inc.

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