IGM FINANCIAL INC. ANNOUNCES FEBRUARY 2025 ASSETS UNDER MANAGEMENT & ADVISEMENT AND NET FLOWS

Canada NewsWire

WINNIPEG, MB, March 5, 2025

WINNIPEG, MB, March 5, 2025 /CNW/ - IGM Financial Inc. $(IGM)$ (TSX: IGM) today reported total assets under management and advisement of $278.2 billion at February 28, 2025, up 12.4% from $247.5 billion at February 28, 2024. Total consolidated net inflows were $924 million during February 2025.

FEBRUARY HIGHLIGHTS

IGM Financial -- Record high assets under management & advisement of $278.2 billion compared to $278.1 billion in the prior month. Investment fund net sales were $521 million up from net sales of $164 million in February 2024. Total net inflows were $924 million up from net inflows of $343 million in February 2024.

IG Wealth Management (IGWM) -- Record high assets under advisement of $144.6 billion compared to $144.4 billion in the prior month. Investment fund net sales were $525 million up from net sales of $160 million in February 2024. Total net inflows were $398 million up from net inflows of $361 million in February 2024.

Mackenzie Investments -- Record high assets under management of $220.2 billion compared to $219.5 billion in the prior month. Investment fund net redemptions were $5 million compared to net sales of $4 million in February 2024. Total net sales were $526 million(3) compared to net redemptions of $18 million in February 2024.

 
Table 1 - Gross and Net FlowsPlease see www.igmfinancial.com for file 
with trended 
history. 
                     Wealth Management   Asset Management 
($ millions)         IG Wealth           Mackenzie          IGMFinancial 
(unaudited)          Management          Investments 
For the month ended February 28, 2025 
Net flows 
 Mutual fund net 
  sales                           525.4            (138.1)         387.3 
 ETF net creations                                   133.5         133.5 
 Investment fund 
  net sales                       525.4           (4.6)(1)         520.8 
 Institutional SMA 
  net sales                                    530.2(2)(3)         530.2 
 Managed asset net 
  sales                           525.4              525.6       1,051.0 
 Other net flows                (127.2)                          (127.2) 
 
Net flows                         398.2              525.6         923.8 
 
Gross flows 
 Mutual fund gross 
  sales                         1,813.9              958.0       2,771.9 
 Dealer gross 
  inflows                       1,510.6                          1,510.6 
 
 
Table 2 -- Assets under Management and Advisement 
($ millions) (unaudited)                February2025  January2025  % Change 
                                                                    Last Month 
Wealth Management 
IG Wealth Management 
Assets under management                      127,546      127,138        0.3 % 
Other assets under advisement                 17,077       17,250      (1.0 %) 
Assets under advisement                      144,623      144,388        0.2 % 
 
Asset management 
Mackenzie Investments 
Mutual funds                                  62,957       63,327      (0.6 %) 
ETFs                                           7,779        7,645        1.8 % 
Investment funds                              70,736       70,972      (0.3 %) 
 
Institutional SMA                              9,039        8,543        5.8 % 
Sub-advisory to Canada Life                   53,791       54,163      (0.7 %) 
Total Institutional SMA                       62,830       62,706        0.2 % 
 
Total third party assets under 
 management                                  133,566      133,678      (0.1 %) 
Sub-advisory and AUM to Wealth 
 Management                                   86,641       85,842        0.9 % 
Total                                        220,207      219,520        0.3 % 
 
ETF's distributed to third parties             7,779        7,645        1.8 % 
ETF's held within IGM managed products         8,953        8,696        3.0 % 
Total ETFs                                    16,732       16,341        2.4 % 
 
Total 
Assets under management                      261,112      260,816        0.1 % 
Other assets under advisement                 17,077       17,250      (1.0 %) 
Assets under management and advisement       278,189      278,066      (0.0 %) 
 
 
Table 3 - Average Assets under Management and Advisement 
($ millions) (unaudited)                                  Quarter to date 2025 
Wealth Management 
IG Wealth Management 
Assets under management                                                125,582 
Other assets under advisement                                           17,132 
Assets under advisement                                                142,714 
 
Asset Management 
Mackenzie Investments 
Mutual funds                                                            62,354 
ETFs                                                                     7,525 
Investment funds                                                        69,879 
 Institutional SMA                                                       8,652 
Sub-advisory to Canada Life                                             53,604 
Total Institutional SMA                                                 62,256 
 
Total third party assets under management                              132,135 
Sub-advisory and AUM to Wealth Management                               85,282 
Total                                                                  217,417 
 
ETFs distributed to third parties                                        7,525 
ETFs held within IGM managed products                                    8,588 
Total ETFs                                                              16,113 
 
Total 
Assets under management                                                257,717 
Other assets under advisement                                           17,132 
Assets under management and advisement                                 274,849 
 
 
 
(1)  Investment fund net sales exclude $216 million in 
      ETF net creations to IGM managed products and $68 
      million in investment fund net sales through the IGWM 
      segment. 
(2)  Excludes sub-advisory to Canada Life and the Wealth 
      Management segment. 
(3)  During February 2025, Mackenzie onboarded institutional 
      mandates of $492 million. 
 

Glossary of Terms

Assets Under Management and Advisement (AUM&A) represents the consolidated AUM and AUA of IGM Financial's core businesses IG Wealth Management and Mackenzie Investments. In the Wealth Management segment, AUM is a component part of AUA. All instances where the asset management segment is providing investment management services or distributing its products through the Wealth Management segment are eliminated in our reporting such that there is no double-counting of the same client savings held at IGM Financial's core businesses. AUM&A excludes Investment Planning Counsel's (IPC's) AUM, AUA, sales, redemptions and net flows which have been disclosed as Discontinued operations.

Assets Under Advisement $(AUA.AU)$ are the key driver of the Wealth Management segment. AUA are savings and investment products held within client accounts of our Wealth Management segment core businesses.

Assets Under Management (AUM) are the key driver of the Asset Management segment. AUM are a secondary driver of revenues and expenses within the Wealth Management segment in relation to its investment management activities. AUM are client assets where we provide investment management services, and include investment funds where we are the fund manager, investment advisory mandates to institutions, and other client accounts where we have discretionary portfolio management responsibilities.

Mutual fund gross sales and net sales 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, pension plans and foundations through separately managed accounts.

Other net flows and Other assets under advisement represents financial savings products held within client accounts in the Wealth Management segment 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.

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

Wealth Management -- Reflects the activities of operating companies primarily focused on providing financial planning and related services to Canadian households and represents the operations of IGWM. IGWM is a retail distribution organization that serves 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.

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March 05, 2025 13:31 ET (18:31 GMT)