IGM Financial Inc. announces January 2007 total assets under management and mutual fund sales

Winnipeg – February 2, 2007: IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary total assets under management of $121.0 billion and mutual fund assets under management of $108.1 billion as at January 31, 2007. Total mutual fund net new money was $120.7-million.

* Mutual Fund Net New Money (referred to as Mutual Fund Net Sales in prior periods) is defined as Gross Sales less Gross Redemptions and is consistent with the terminology now used by The Investment Funds Institute of Canada (IFIC).

1 includes $556-million (December 2006 - $556-million) in Counsel Group of Funds mutual fund assets invested in other managers' mutual funds.

2 excludes assets managed by Mackenzie on behalf of Investors Group.

3 includes $5.10-million in net redemptions (2006 - $3.92-million in net redemptions) of Counsel Group of Funds mutual funds invested in other managers' mutual funds.

Investors Group announced mutual fund sales of $627.2-million, redemptions of $462.0-million and net new money of $165.2-million for the month of January 2007. Long-term fund gross sales, redemptions and net new money for the month of January 2007 were $539.6-million, $407.6-million and $132.0-million, respectively.

Mackenzie announced mutual fund sales of $714.6-million, redemptions of $769.8-million and net redemptions of $55.2-million for the month of January 2007. Long-term fund gross sales, redemptions and net redemptions for the month of January 2007 were $563.4-million, $635.1-million and $71.7-million, respectively.

Counsel Group of Funds, a division of Investment Planning Counsel, reported mutual fund sales of $31.7-million, redemptions of $21.0-million and net new money of $10.7-million for the month of January 2007. Long-term fund gross sales, redemptions and net new money for the month of January 2007 were $29.9-million, $20.2-million and $9.7-million, respectively.

For more information on mutual fund activity, please refer to individual press releases for each reporting Company.

Additional information about mutual fund assets and fund flows will be available on the Investment Funds Institute of Canada (IFIC) web site (www.ific.ca) on approximately the 15th of each month as part of a Canadian industry-wide release of monthly statistics.

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 $121 billion in total assets under management. Its activities are carried out principally through Investors Group, Mackenzie Financial Corporation and Investment Planning Counsel. IGM Financial Inc. is a member of the Power Financial Corporation group of companies.