IGM FINANCIAL INC. ANNOUNCES APRIL 2022 ASSETS UNDER MANAGEMENT & ADVISEMENT AND NET FLOWS

view original post

WINNIPEG, MB, May 4, 2022 /CNW/ – IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary total consolidated net outflows of $112 million during April 2022 as shown in Table 1. Total assets under management and advisement were $257.4 billion at April 30, 2022, compared with $268.3 billion at March 31, 2022, and $253.1 billion at April 30, 2021. Assets under management and advisement are shown in Table 2.

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

APRIL HIGHLIGHTS

IGM Financial – Assets under management & advisement of $257.4 billion were down 4.1% in the month. Total net outflows were $112 million compared to net inflows of $687 million in April 2021. Investment fund net redemptions were $85 million compared to net sales of $523 million in April 2021.

IG Wealth Management – Assets under advisement of $111.6 billion were down 4.0% in the month. Total net inflows were $42 million compared to net inflows of $130 million in April 2021.

Mackenzie – Assets under management of $197.1 billion were down 4.1% in the month. Total net outflows were $61 million compared to net inflows of $552 million in April 2021. Investment fund net redemptions were $49 million compared to net sales of $545 million in April 2021.

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(2)(3)

IGM

Financial

For the month ended April 30, 2022

Net flows

Mutual fund net sales

(12.2)

(23.5)

(35.7)

(90.6)

(126.3)

ETF net creations

41.2(1)

41.2

Investment fund net sales

(12.2)

(23.5)

(35.7)

(49.4)

(85.1)

Institutional SMA net sales

(11.9)

(11.9)

Managed asset net sales

(12.2)

(23.5)

(35.7)

(61.3)

(97.0)

Mackenzie Investment fund net sales

0.8

(1.0)

(0.2)(2)

IGM Product net sales

(11.4)

(24.5)

(35.9)

Other dealer net flows

53.0

(67.7)

(14.6)

(14.6)

Net flows

41.6

(92.2)

(50.5)

(61.3)

(111.6)(4)

Gross flows

Mutual fund gross sales

852.1

56.1

908.2

634.7

1,542.9

Dealer gross inflows

969.7

286.4

1,256.1

1,256.1

Table 2 – Assets under Management and Advisement

($ millions) (unaudited)

April

2022

March

2022

% Change
Last Month

Wealth Management

IG Wealth Management

Assets under management

102,793

107,187

(4.1%)

Other assets under advisement

8,841

9,094

(2.8%)

Assets under advisement

111,634

116,281

(4.0%)

Investment Planning Counsel

Assets under management

5,018

5,201

(3.5%)

Other assets under advisement

25,454

26,533

(4.1%)

Assets under advisement

30,472

31,734

(4.0%)

Total

Assets under management

107,811

112,388

(4.1%)

Other assets under advisement

34,285

35,617

(3.7%)

Assets under advisement

142,096

148,005

(4.0%)

Asset management

Mackenzie

Mutual funds

57,619

60,291

(4.4%)

ETFs

5,777

5,848

(1.2%)

Investment funds

63,396

66,139

(4.1%)

Institutional SMA

6,806

7,090

(4.0%)

Sub-advisory to Canada Life

49,338

51,502

(4.2%)

Total Institutional SMA

56,144

58,592

(4.2%)

Total (ex sub-advisory to Wealth Management)

119,540

124,731

(4.2%)

Sub-advisory to Wealth Management

77,574

80,814

(4.0%)

Total

197,114

205,545

(4.1%)

ETF’s distributed to third parties

5,777

5,848

(1.2%)

ETF’s held within IGM managed products

6,787

7,059

(3.9%)

Total ETFs

12,564

12,907

(2.7%)

Consolidated

Assets under management

227,351

237,119

(4.1%)

Other assets under advisement

30,063

31,209

(3.7%)

Assets under management and advisement(4)

257,414

268,328

(4.1%)

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 2022

Wealth Management

IG Wealth Management

Assets under management

105,546

Other assets under advisement

9,012

Assets under advisement

114,558

Investment Planning Counsel

Assets under management

5,152

Other assets under advisement

25,951

Assets under advisement

31,103

Total

Assets under management

110,698

Other assets under advisement

34,953

Assets under advisement

145,651

Asset Management

Mackenzie

Mutual funds

59,350

ETFs

5,896

Investment funds

65,246

Institutional SMA

6,948

Sub-advisory to Canada Life

50,420

Total Institutional SMA

57,368

Total (ex sub-advisory to Wealth Management)

122,614

Sub-advisory to Wealth Management

79,284

Total

201,898

ETFs distributed to third parties

5,896

ETFs held within IGM managed products

6,936

Total ETFs

12,832

Consolidated

Assets under management

233,312

Other assets under advisement

30,637

Assets under management and advisement(5)

263,949

1

ETF net creations excludes $126.7 million in ETF net creations to IGM managed products.

2

Excludes sub-advisory to Canada Life and the Wealth Management segment.

3

($0.2) 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, $4.2 billion in Mackenzie investment funds distributed through the Wealth Management segment eliminates on consolidation at April 30, 2022. ($4.4 billion at March 31, 2022).

5

Within average total assets under management and advisement, $4.3 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 $257 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.

Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/May2022/04/c7646.html