Winnipeg, MB - June 2, 2004 :
IGM Financial Inc. (IGM) (TSX: IGI) today reported total net mutual fund sales of $38.0-million in May 2004. This includes net redemptions at Investors Group of $20.2-million, net sales at Mackenzie Financial of $38.0-million and net sales at IPC Financial Network (IPC) of $20.2-million. Total mutual fund assets under management were $79.1 billion at May 31, 2004.
IGM FINANCIAL INC.
Mutual Fund Assets under Management (billions) |
| |
May
2004 |
April
2004 |
May
2003 |
% Change
Month |
% Change Annual |
| IGM Financial Inc. |
$79.071 |
$77.501 |
$67.33 |
2.03 |
17.44 |
| Investors Group |
$42.37 |
$42.28 |
$37.29 |
0.21 |
13.62 |
| Mackenzie |
$35.41 |
$35.22 |
$30.04 |
0.53 |
17.88 |
| Investment Planning Counsel |
$1.291 |
N/A* |
N/A* |
N/A* |
N/A* |
| Net Sales (millions) |
May, 2004 |
May, 2003 |
All Funds |
Long Term Funds |
All Funds |
Long Term Funds |
| IGM Financial Inc. |
$38.02 |
$20.3 2
|
($181.5) |
($109.0) |
| Investors Group |
($20.2) |
($39.4) |
($112.9) |
($104.5) |
| Mackenzie |
$38.0 |
$37.3 |
($68.6) |
($4.5) |
| IPC |
$20.22 |
$22.42 |
N/A* |
N/A* |
* IGM Financial Inc. acquired Investment Planning Counsel on May 10, 2004
1 includes $334.1-million in Counsel mutual fund assets invested in other managers’ mutual funds.
2 includes
$11.7-million in net sales of Counsel mutual funds invested in other managers' mutual funds.
Investors Group announced mutual fund sales of $336.8-million, redemptions of $357.0-million and net redemptions of $20.2-million for the month of May 2004. Gross sales, redemptions and net redemptions of long-term funds for the month of May 2004 were $261.5-million, $300.9-million and $39.4-million.
Mackenzie Financial Corporation announced mutual fund sales of $498.4-million, redemptions of $460.4-million and net sales of $38.0-million for the month. Gross sales, redemptions and net sales of long-term funds for the month of May 2004 were $418.3-million, $381.0-million and $37.3-million.
IPC Financial Network Inc. reported mutual fund sales of its asset management division, Counsel Wealth Management, of $32.7-million, redemptions of $12.5-million and net sales of $20.2-million for the month of May 2004. Gross sales, redemptions and net sales of long-term funds for the month of May were $31.2-million, $8.8-million and $22.4-million.
For more information on mutual fund activity, please refer to individual press releases for each reporting Company issued today.
IGM Financial Inc. is one of Canada's premier personal financial services companies, and the country's largest manager and distributor of mutual funds and other managed asset products. Its activities are carried out principally through Investors Group, Mackenzie Financial and IPC Financial Network. IGM Financial Inc. is a member of the Power Financial Corporation group of companies.
Media contacts:
Ron Arnst
Media Relations
Investors Group Inc.
(204) 956-3364
|
Mike Van Soelen
Environics Communications
(416) 969-2717
|
|
