| Winnipeg – October 3, 2006: IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary mutual fund assets under management as at September 30, 2006 and preliminary mutual fund sales for the month of September. Total mutual fund assets under management were $99.4-billion. Total net mutual fund redemptions were $90.5-million including net sales at Investors Group of $15.2-million, net redemptions at Mackenzie Financial of $106.7-million and net sales at Counsel Group of Funds, a division of Investment Planning Counsel, of $1.0-million.
| Mutual Fund Assets under Management (billions) (unaudited) |
September 2006 |
August 2006 |
December
2005 |
% Change Month |
% Change YTD |
| IGM Financial Inc. |
$99.41 1 |
$99.18 1 |
$94.05 1 |
0.2 |
5.7 |
| Investors Group |
$53.99 |
$53.80 |
$50.70 |
0.4 |
6.5 |
| Mackenzie Financial |
$43.39 |
$43.36 |
$41.47 |
0.1 |
4.6 |
| Counsel Group of Funds |
$2.03 1 |
$2.02 1 |
$1.88 1 |
0.5 |
8.0 |
| Net Sales (millions) (unaudited) |
September 2006 |
September 2005 |
| All Funds |
Long Term Funds |
All Funds |
Long Term Funds |
| IGM Financial Inc. |
($90.5) 2 |
($115.2) 2 |
$52.8 2 |
$50.8 2 |
| Investors Group |
$15.2 |
($5.2) |
$15.6 |
$6.0 |
| Mackenzie Financial |
($106.7) |
($111.1) |
$22.7 |
$31.3 |
| Counsel Group of Funds |
$1.0 2 |
$1.1 2 |
$14.5 2 |
$13.5 2 |
¹ includes $498-million (August 2006 - $496-million, December 2005 - $388-million) in Counsel Group of Funds mutual fund assets invested in other managers' mutual funds.
² includes $4.6-million in net redemptions (2005 - $0.1-million in net redemptions) of Counsel Group of Funds mutual funds invested in other managers' mutual funds.
Investors Group announced mutual fund sales of $389.1-million, redemptions of $373.9-million and net sales of $15.2-million for the month of September 2006. Gross sales, redemptions and net redemptions of long-term funds for the month of September 2006 were $314.4-million, $319.6-million and $5.2-million.
Mackenzie Financial announced mutual fund sales of $470.4-million, redemptions of $577.1-million and net redemptions of $106.7-million for the month of September 2006. Gross sales, redemptions and net redemptions of long-term funds for the month of September 2006 were $371.2-million, $482.3-million and $111.1-million.
Counsel Group of Funds, a division of Investment Planning Counsel, reported mutual fund sales of $18.2-million, redemptions of $17.2-million and net sales of $1.0-million for the month of September 2006. Gross sales, redemptions and net sales of long-term funds for the month of September 2006 were $17.4-million, $16.3-million and $1.1-million.
For more information on mutual fund activity, please refer to individual press releases for each reporting Company.
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, with over $110 billion in total assets under management, which includes the assets of the Cundill Group acquired by Mackenzie Financial Corporation on September 22, 2006 . 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.
For more information contact:
Ron Arnst
Media Relations
(204) 956-3364
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