Winnipeg, MB - October 4, 2004 :IGM Financial Inc. (IGM) (TSX: IGI) today reported total mutual fund assets under management as at September 30th, 2004 and net mutual fund sales for the month of September. Total mutual fund assets under management were $78.5-billion. Total net mutual fund redemptions were $10.4-million including net redemptions at Investors Group of $14.7-million, net redemptions at Mackenzie Financial of $14.5-million and net sales at Investment Planning Counsel of $18.8-million.
IGM FINANCIAL INC.
Mutual Fund Assets under Management (billions) |
| |
September
2004 |
August
2004 |
September
2003 |
% Change
Month |
% Change Annual |
| IGM Financial Inc. |
$78.471 |
$78.31 |
$69.95 |
0.20 |
12.18 |
| Investors Group |
$42.30 |
$42.03 |
$38.45 |
0.64 |
10.01 |
| Mackenzie |
$34.81 |
$34.94 |
$31.32 |
(0.39) |
11.14 |
| Investment Planning Counsel |
$1.361 |
$ 1.34 |
N/A* |
1.49 |
N/A* |
| Net Sales (millions) |
September, 2004 |
September, 2003 |
All Funds |
Long Term Funds |
All Funds |
Long Term Funds |
| IGM Financial Inc. |
($10.4)2 |
($13.9) 2
|
($133.5) |
($80.7) |
| Investors Group |
($14.7) |
($29.5) |
($92.1) |
($82.1) |
| Mackenzie |
($14.5) |
$24.8 |
($41.4) |
$1.4 |
| IPC |
$18.82 |
$18.62 |
N/A* |
N/A* |
* IGM Financial Inc. acquired Investment Planning Counsel on May 10, 2004
1 includes $348.8-million in Investment Planning Counsel mutual fund assets invested in other managers’ mutual funds.
2 includes
$1.6-million in net sales of Investment Planning Counsel mutual funds invested in other managers' mutual funds.
Investors Group announced mutual fund sales of $334.6-million, redemptions of $349.3-million and net redemptions of $14.7-million for the month of September 2004. Gross sales, redemptions and net redemptions of long-term funds for the month of September 2004 were $262.3-million, $291.8-million and $29.5-million.
Mackenzie Financial Corporation announced mutual fund sales of $460.6-million, redemptions of $475.1-million and net redemptions of $14.5-million for the month. Gross sales, redemptions and net sales of long-term funds for the month of September 2004 were $383.1-million, $358.3-million and $24.8-million.
Investment Planning Counsel reported mutual fund sales of its asset management division, Counsel Wealth Management, of $29.8-million, redemptions of $11.0-million and net sales of $18.8-million for the month of September 2004. Gross sales, redemptions and net sales of long-term funds for the month of September were $28.7-million, $10.1-million and $18.6-million.
For more information on mutual fund activity, please refer to individual press releases for each reporting Company issued October 1 st .
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 Investment Planning Counsel. IGM Financial Inc. is a member of the Power Financial Corporation group of companies.
Media contacts:
Ron Arnst
Media Relations
(204) 956-3364
|
Mike Van Soelen
Environics Communications
(416) 969-2717
|
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