Winnipeg, MB - April 2, 2004: Investors Group today announced mutual fund sales of $540.4-million, redemptions of $414.4-million and net sales of $126.0-million for the month of March 2004. For the three months ended March 31, 2004, the Company had mutual fund sales of $1.561-billion, redemptions of $1.175-billion and net sales of $386.1-million.
Gross sales, redemptions and net sales of long-term funds for the month of March 2004 were $409.3-million, $354.1-million and $55.2-million. Gross sales, redemptions and net sales of long-term funds for the three months ended March 31, 2004 were $1.214-billion, $1.004-billion and $209.6-million, respectively.
Certain sales of long-term funds in 2004, sourced through Investors Group's Solutions Banking™ loan programs, were deposited and held in Investors Group's Money Market Fund on a one-day basis and then transferred into long-term mutual funds. Including these sales, the sales and net sales of long-term funds for the three months ended March 31, 2004 would have been $1.340-billion and $335.3-million, respectively.
Gross sales were $427.8-million, redemptions were $476.3-million and net redemptions were $48.5-million in March 2003. Net redemptions of long-term funds were $61.1-million in March 2003. For the three months ended March 31, 2003, gross sales were $1.221-billion, redemptions were $1.303-billion and net redemptions were $82.0-million. Net redemptions of long-term funds were $101.4-million.
Mutual fund assets under management were $42.7-billion at March 31, 2004 compared to $43.1-billion at February 29, 2004.
Investors Group is a national leader in delivering personalized financial solutions to more than one million Canadians, through a network of close to 3,200 Consultants located in 100 Financial Planning Centres. In addition to an exclusive family of mutual funds, managed asset and other investment vehicles, Investors Group offers a wide range of mortgage, insurance, brokerage and banking services. Investors Group is a member of the Power Financial Corporation group of companies.
Media Contacts:
Ron Arnst
Investors Group
(204) 956-3364
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