Winnipeg, MB, May 3, 2024 /CNW/ – IGM Financial Inc. (IGM) (TSX: IGM) today reported total assets under management and advice. $246.7 billion in April 30, 2024compared to $252.2 billion in March 31, 2024and $236.5 billion in April 30, 2023(1). The total consolidated net outflow is: $253 million meanwhile April 2024.
April highlights
IGM Financial – Asset management and advice $246.7 billion In the same month, it fell by 2.2%.The total net outflow is $253 million compared to net outflows $499 million in April 2023(2). The net redemption amount of the investment fund is $471 million compared to net redemption amount $321 million in April 2023(2).
IG Wealth Management – Assets being advised $125.7 billion In the same month, it fell by 1.9%.The total net outflow is $192 million compared to net outflows $252 million in April 2023.
mackenzie – Assets under management $198.9 billion In the same month, it fell by 2.3%. The net redemption amount of the investment fund is $202 million compared to net redemption amount $89 million in April 2023. The total net redemption amount is $61 million compared to net redemption amount $247 million in April 2023.
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Table 1 – Gross and net flows For trend history files, please visit www.igmfinancial.com. |
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wealth management |
asset management |
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|
(Millions of dollars) (unaudited) |
IG Wealth Management |
mackenzie |
IGM finance |
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Months ending April 30, 2024 |
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net flow |
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|
Investment trust sales |
(269.2) |
(259.1) |
(528.3) |
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ETF net creation number |
57.4 |
57.4 |
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Investment fund net amount sale |
(269.2) |
(201.7)(3) |
(470.9) |
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Institutional SMA Net Sales |
140.4(Four) |
140.4 |
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|
Sales of assets under management |
(269.2) |
(61.3) |
(330.5) |
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Other net flows |
77.4 |
77.4 |
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|
net flow |
(191.8) |
(61.3) |
(253.1) |
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total flow |
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Total sales of investment trusts |
1,103.4 |
691.9 |
1,795.3 |
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Dealer total inflow |
1,118.2 |
1,118.2 |
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Table 2 – Assets under management and advice |
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|
(Millions of dollars) (unaudited) |
April 2024 |
march 2024 |
% change |
|
wealth management |
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|
IG Wealth Management |
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|
Assets under management |
111,307 |
113,566 |
(2.0%) |
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Other assets subject to advice |
14,343 |
14,455 |
(0.8%) |
|
Assets under advice |
125,650 |
128,021 |
(1.9%) |
|
asset management |
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|
mackenzie |
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|
mutual funds |
57,219 |
58,847 |
(2.8%) |
|
ETF |
6,012 |
6,074 |
(1.0%) |
|
investment trust |
63,231 |
64,921 |
(2.6%) |
|
Institutional SMA |
7,990 |
7,966 |
0.3% |
|
Sub-advice to Canada Life |
49,840 |
51,281 |
(2.8%) |
|
Institution-wide SMA |
57,830 |
59,247 |
(2.4%) |
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Total third party assets managed |
121,061 |
124,168 |
(2.5%) |
|
Sub-advisory and AUM to wealth management |
77,836 |
79,503 |
(2.1%) |
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total |
198,897 |
203,671 |
(2.3%) |
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ETFs distributed to third parties |
6,012 |
6,074 |
(1.0%) |
|
ETFs held within IGM managed products |
7,597 |
7,737 |
(1.8%) |
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Total ETF |
13,609 |
13,811 |
(1.5%) |
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total |
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Assets under management |
232,368 |
237,734 |
(2.3%) |
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Other assets subject to advice |
14,343 |
14,455 |
(0.8%) |
|
Assets under management and advice |
246,711 |
252,189 |
(2.2%) |
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Table 3 – Average assets under management and advice |
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|
(Millions of dollars) (unaudited) |
Quarters to 2024 |
|
wealth management |
|
|
IG Wealth Management |
|
|
Assets under management |
112,131 |
|
Other assets subject to advice |
14,346 |
|
Assets under advice |
126,477 |
|
asset management |
|
|
mackenzie |
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|
mutual funds |
57,781 |
|
ETF |
6,015 |
|
investment trust |
63,796 |
|
Institutional SMA |
7,979 |
|
Sub-advice to Canada Life |
50,561 |
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Institution-wide SMA |
58,540 |
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Total third party assets managed |
122,336 |
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Sub-advisory and AUM to wealth management |
78,629 |
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total |
200,965 |
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ETFs distributed to third parties |
6,015 |
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ETFs held within IGM managed products |
7,650 |
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Total ETF |
13,665 |
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total |
|
|
Assets under management |
234,467 |
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Other assets subject to advice |
14,346 |
|
Assets under management and advice |
248,813 |
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1 |
The sale of Investment Planning Advisors was completed on November 30, 2023. His IGM assets under advisement, including investment planning advisors, were $263 billion as of April 30, 2023. |
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2 |
IGM, which includes investment plan advisors, reported total net outflows for April 2023 of $478 million and net redemptions of investment funds of $327 million. |
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3 |
Investment fund net sales exclude $2.0 million of net ETF generation into IGM managed products and $29.0 million of investment fund net sales through the IG Wealth Management (IGWM) segment. |
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Four |
Excludes sub-advisory to Canada Life and Wealth Management divisions. |
Glossary
Assets under management and advice (AUM&A) Represents the consolidated AUM and AUA of IGM Financial's core businesses, IG Wealth Management and Mackenzie Investments. In the wealth management sector, AUM is a component of AUA. All instances in which the Wealth Management Division provides investment management services or sells its products through the Wealth Management Division will be subject to strict regulations to ensure that the same customer's savings held in IGM Financial's core business are not double counted. are excluded from our report. AUM&A does not include her AUM, AUA, sales, redemptions and net flows of Investment Plan Advisors (IPC), which are disclosed as discontinued operations.
Assets Under Advice (AUA) is a key driver of the wealth management sector. AUAs are savings and investment products held within customer accounts in our Wealth Management core business.
Assets under management (AUM) is a key driver of the asset management sector. AUM is a secondary driver of revenues and expenses within the wealth management sector in relation to investment management activities. AUM represents client assets for which we provide investment management services, including investment funds for which we are the fund manager, institutional investment advisory services, and other client accounts for which we have discretionary portfolio management responsibility. Masu.
Investment trust gross and net sales It reflects the performance of investment trusts managed by each operating company, and in the case of wealth management business, it also includes other optional portfolio management services provided by each operating company, such as individually managed account programs.
ETF Represents an exchange-traded fund managed by Mackenzie.
Institutional SMA Represents investment advisory and sub-advisory duties to institutional investors, pension plans and foundations through separately managed accounts.
Other net flows and other assets under advice represents financial savings products held within Wealth Management segment customer accounts that are not invested in products or programs in which these operating companies perform investment management activities. These savings products include third-party managed investment funds, direct investments in stocks and bonds, and deposit products.
net flow Represents total net cash or in-kind contributions to Wealth Management client accounts and total net sales to Asset Management.
wealth management – Represents the business of IG Wealth Management (IGWM), which reflects the activities of a operating company primarily focused on providing financial planning and related services to Canadian households. IGWM is a retail distribution organization that serves Canadian households through securities dealers, mutual fund dealers, and other subsidiaries authorized to sell financial products and services. The majority of this segment's revenue is derived from providing financial advice and distributing financial products and services to Canadian households. This segment also includes the investment management activities of these organizations, such as mutual fund management and discretionary portfolio management services.
asset management – Reflects the activities of an operating company primarily focused on providing investment management services and represents the business of Mackenzie Investments. Investment management services are provided to a range of investment funds that are distributed through third-party dealers and financial advisors, as well as through institutional advice to pension and other institutional investors.
discontinued business – Reflects the activities of investment planning advisors.upon April 3, 2023IGM Financial announced that it will sell 100% of its common stock in Investment Planning Counsel Inc. for cash consideration. $575 million.The transaction has ended November 30, 2023.
About IGM Financial Co., Ltd.
IGM Financial Inc. is one of them. Canada's A major comprehensive asset management company, $247 billion Total assets under management and advice. The company provides a wide range of financial planning and investment management services to help more than 2 million Canadians achieve their financial goals. Its activities are conducted primarily through IG Wealth Management and Mackenzie Investments. IGM Financial is part of the Power Corporation family of companies.
Source IGM Financial Inc.
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