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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