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

WINNIPEG, MB, April 7, 2021 /CNW/ - IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary total consolidated net flows of $637 million during March 2021 as shown in Table 1. Total assets under management and advisement were $248.5 billion at March 31, 2021, compared with $243.5 billion at February 28, 2021, and $169.4 billion at March 31, 2020. Assets under management and advisement are shown in Table 2.

MARCH HIGHLIGHTS
IGM Financial - Record high assets under management & advisement of $248.5 billion, up 2.0% in the month and up 3.6% year to date. March 2021 net inflows of $637 million up from ($196) million in March 2020. For the quarter ended March 2021, net inflows were $2.2 billion, an all-time best quarter result and up from $821 million in quarterly net inflows in 2020.

IG Wealth – Record high assets under advisement of $107.0 billion, up 1.9% in the month and up 3.6% year to date. March 2021 net inflows of $220 million up from net inflows of $132 million in March 2020. For the quarter ended March 2021, net inflows were $1.0 billion, the best quarter result in over two decades and up from $381 million in quarterly net inflows in 2020.

Mackenzie – Record high assets under management of $191.6 billion, up 2.4% in the month and up 2.6% year to date. March 2021 net sales were $492 million, up from ($380) million in March 2020. For the quarter ended March 2021, net sales were $1.5 billion of which $1.9 billion was retail. This was an all-time record high, and an improvement from net sales of $351 million in 2020 of which $194 million was retail.

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

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 $248 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.