IGM FINANCIAL INC. ANNOUNCES MAY 2025 ASSETS UNDER MANAGEMENT & ADVISEMENT AND NET FLOWS Français
WINNIPEG, MB, June 4, 2025 /CNW/ - IGM Financial Inc. (IGM) (TSX: IGM) today reported record high total assets under management and advisement of $278.8 billion at May 31, 2025, up 11.0% from $251.1 billion at May 31, 2024. Total consolidated net inflows were $190 million during May 2025.
MAY HIGHLIGHTS
IGM Financial – Record high assets under management & advisement were $278.8 billion up from $269.5 billion in the prior month. Investment fund net sales were $356 million up from net redemptions of $378 million in May 2024. Total net inflows were $190 million up from net outflows of $302 million in May 2024.
IG Wealth Management (IGWM) – Assets under advisement were $143.7 billion up from $139.1 billion in the prior month. Record high Investment fund net sales were $250 million up from net redemptions of $127 million in May 2024. Total net inflows were $65 million up from net outflows of $2 million in May 2024.
Mackenzie Investments – Record high assets under management were $221.0 billion up from $213.7 billion in the prior month. Investment fund net sales were $106 million up from net redemptions of $251 million in May 2024. Total net sales of $125 million up from net redemptions of $300 million in May 2024.
Table 2 – Assets under Management and Advisement
($ millions) (unaudited)
May
2025
April
2025
% Change
Last Month
Wealth Management
IG Wealth Management
Assets under management
126,845
122,505
3.5 %
Other assets under advisement
16,834
16,546
1.7 %
Assets under advisement
143,679
139,051
3.3 %
Asset management
Mackenzie Investments
Mutual funds
61,459
59,351
3.6 %
ETFs
8,305
7,896
5.2 %
Investment funds
69,764
67,247
3.7 %
Institutional SMA
11,630
11,155
4.3 %
Sub-advisory to Canada Life
53,741
52,039
3.3 %
Total Institutional SMA
65,371
63,194
3.4 %
Total third party assets under management
135,135
130,441
3.6 %
Sub-advisory and AUM to Wealth Management
85,820
83,305
3.0 %
Total
220,955
213,746
3.4 %
ETF's distributed to third parties
8,305
7,896
5.2 %
ETF's held within IGM managed products
9,761
9,092
7.4 %
Total ETFs
18,066
16,988
6.4 %
Total
Assets under management
261,980
252,946
3.6 %
Other assets under advisement
16,834
16,546
1.7 %
Assets under management and advisement
278,814
269,492
3.5 %
Table 3 - Average Assets under Management and Advisement
($ millions) (unaudited)
Quarter to date 2025
Wealth Management
IG Wealth Management
Assets under management
122,859
Other assets under advisement
16,551
Assets under advisement
139,410
Asset Management
Mackenzie Investments
Mutual funds
59,556
ETFs
7,914
Investment funds
67,470
Institutional SMA
11,524
Sub-advisory to Canada Life
52,068
Total Institutional SMA
63,592
Total third party assets under management
131,062
Sub-advisory and AUM to Wealth Management
84,543
Total
215,605
ETFs distributed to third parties
7,914
ETFs held within IGM managed products
9,221
Total ETFs
17,135
Total
Assets under management
253,921
Other assets under advisement
16,551
Assets under management and advisement
270,472
1 Excludes sub-advisory to Canada Life and the Wealth Management segment.
Glossary of Terms
Assets Under Management and Advisement (AUM&A) represents the consolidated AUM and AUA of IGM Financial's core businesses IG Wealth Management and Mackenzie Investments. In the Wealth Management segment, AUM is a component part of AUA. All instances where the asset management segment is providing investment management services or distributing its products through the Wealth Management segment are eliminated in our reporting such that there is no double-counting of the same client savings held at IGM Financial's core businesses. AUM&A excludes Investment Planning Counsel's (IPC's) AUM, AUA, sales, redemptions and net flows which have been disclosed as Discontinued operations.
Assets Under Advisement (AUA) are the key driver of the Wealth Management segment. AUA are savings and investment products held within client accounts of our Wealth Management segment core businesses.
Assets Under Management (AUM) are the key driver of the Asset Management segment. AUM are a secondary driver of revenues and expenses within the Wealth Management segment in relation to its investment management activities. AUM are client assets where we provide investment management services and include investment funds where we are the fund manager, investment advisory mandates to institutions, and other client accounts where we have discretionary portfolio management responsibilities.
Mutual fund gross sales and net sales reflect the results of the mutual funds managed by the respective operating companies, and in the case of the Wealth Management segment also include other discretionary portfolio management services provided by the operating companies, including separately managed account programs.
ETF's represent exchange traded funds managed by Mackenzie.
Institutional SMA represents investment advisory and sub-advisory mandates to institutional investors, pension plans and foundations through separately managed accounts.
Other net flows and Other assets under advisement represents financial savings products held within client accounts in the Wealth Management segment that are not invested in products or programs where these operating companies perform investment management activities. These savings products include investment funds managed by third parties, direct investment in equity and fixed income securities and deposit products.
Net flows represent the total net contributions, in cash or in kind, to client accounts at the Wealth Management segment and the overall net sales to the Asset Management segment.
Wealth Management – Reflects the activities of operating companies primarily focused on providing financial planning and related services to Canadian households and represents the operations of IGWM. IGWM is a retail distribution organization that serves Canadian households through their securities dealers, mutual fund dealers and other subsidiaries licensed to distribute financial products and services. The majority of the revenues of this segment are 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, including mutual fund management and discretionary portfolio management services.
Asset Management – Reflects the activities of operating companies primarily focused on providing investment management services, and represents the operations of Mackenzie Investments. Investment management services are provided to a suite of investment funds that are distributed through third party dealers and financial advisors, and also through institutional advisory mandates to pension and other institutional investors.
Discontinued operations - Reflects the activities of Investment Planning Counsel. On April 3, 2023, IGM Financial announced the sale of 100% of the common shares of Investment Planning Counsel Inc. for cash consideration of $575 million. The transaction closed on November 30, 2023.
ABOUT IGM FINANCIAL INC.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
13 minutes ago
- Cision Canada
CAE announces renewal of normal course issuer bid Français
MONTREAL, June 6, 2025 /CNW/ - (NYSE: CAE) (TSX: CAE) – CAE Inc. (" CAE") today announced that it has received regulatory approval to renew its normal course issuer bid (" NCIB") to purchase, for cancellation, up to 16,019,294 of its common shares commencing June 10, 2025 and ending June 9, 2026. The maximum number of common shares that may be repurchased under the program represents approximately five percent (5%) of the issued and outstanding common shares of CAE. The actual number of common shares purchased under the NCIB, the timing of purchases and the price at which the common shares are bought will depend upon management discretion based on factors such as market conditions. Purchases under the NCIB will be made through the facilities of the Toronto Stock Exchange (" TSX") in accordance with the TSX's applicable policies or the facilities of the New York Stock Exchange (" NYSE") in compliance with applicable NYSE rules and policies and U.S. laws, or in such other manner as may be permitted under applicable stock exchange rules and applicable securities laws, including through alternative Canadian and US trading platforms and privately-negotiated, off-exchange block purchases. In the case of off-exchange block purchases, purchases will be at a discount to the prevailing market price in accordance with and subject to the terms of applicable exemptive relief. RBC Dominion Securities Inc. (" RBC") has agreed to act as CAE's designated broker to make purchases of common shares pursuant to the NCIB. CAE has also entered into an automatic repurchase plan agreement (" ARPA") with RBC allowing it to purchase common shares under the NCIB when CAE would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed black-out periods. Before entering a black-out period, CAE may, but is not required to, instruct RBC to make purchases under the NCIB during such a period based on parameters set by CAE prior to the black-out period in accordance with the ARPA, TSX rules and applicable securities laws. All purchases made under the ARPA are included in computing the number of common shares purchased under the NCIB. The ARPA has been pre-cleared by the TSX and will be implemented and effective June 10, 2025, and will terminate on the earliest of the date on which: (i) the repurchase limit on the NCIB has been reached; (ii) the NCIB expires; (iii) CAE terminates the ARPA in accordance with its terms; and (iv) RBC terminates the ARPA in accordance with its terms. The ARPA constitutes an "automatic securities purchase plan" under applicable Canadian securities laws. The price CAE will pay for any common shares will be the market price at the time of acquisition, plus brokerage fees. During the period that the NCIB is outstanding, CAE does not intend to make purchases of its common shares other than by means of open market transactions or such other means as may be permitted or approved by any applicable securities regulator. The average daily trading volume of CAE's common shares through the facilities of the TSX over the last six completed calendar months was 733,845 (" ADTV"). Accordingly, under the TSX rules and policies, CAE will be entitled on any trading day to purchase up to 25% of the ADTV, which totals 183,461 common shares, for the next 12-month period of the NCIB. In excess of the daily repurchase limit, CAE may make, once per week, a block purchase (as such term is defined in the TSX Company Manual) of common shares not owned directly or indirectly by any insiders, which may exceed such daily limit, in accordance with the TSX rules. As of May 30, 2025, CAE had 320,385,889 common shares issued and outstanding. All common shares purchased pursuant to the NCIB will be cancelled. Under the normal course issuer bid which began on May 30, 2024, and which expired on May 29, 2025, CAE received approval from the TSX to purchase up to 15,932,187 common shares. As at May 29, 2025, CAE had purchased a total of 856,230 common shares thereunder, at a volume weighted average price of $24.85 per common share, for a total consideration of $21.3 million. Such purchases were effected through the facilities of the TSX and Canadian alternative trading systems. The NCIB is being established as part of CAE's capital allocation strategy. The Board of Directors of CAE believes that any purchases made under the NCIB will be in the best interest of CAE and that such purchases will constitute a desirable use of funds that should enhance shareholder value. About CAE At CAE, we exist to make the world safer. We deliver cutting-edge training, simulation, and critical operations solutions to prepare aviation professionals and defence forces for the moments that matter. Every day, we empower pilots, cabin crew, maintenance technicians, airlines, business aviation operators, and defence and security personnel to perform at their best and when the stakes are the highest. Around the globe, we're everywhere customers need us to be with approximately 13,000 employees at around 240 sites and training locations in over 40 countries. For nearly 80 years, CAE has been at the forefront of innovation, consistently seeking to set the standard by delivering excellence in high-fidelity flight simulators and training solutions, while embedding sustainability at the heart of everything we do. By harnessing technology and enhancing human performance, we strive to be the trusted partner in advancing safety and mission readiness—today and tomorrow. Caution concerning forward-looking statements This press release includes forward-looking statements, including in connection with CAE's NCIB, ARPA and future purchases of common shares pursuant to the NCIB. Since forward-looking statements and information relate to future events or future performance and reflect current expectations or beliefs regarding future events, they are typically identified by words such as "anticipate", "believe", "could", "estimate", "expect", "intend", "likely", "may", "plan", "seek", "should", "will", "strategy", "future" or the negative thereof or other variations thereon suggesting future outcomes or statements regarding an outlook. All such statements constitute "forward-looking statements" within the meaning of applicable Canadian securities legislation and "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. By their nature, forward‑looking statements require us to make assumptions and are subject to inherent risks and uncertainties associated with our business which may cause actual results in future periods to differ materially from results indicated in forward‑looking statements. While these statements are based on management's expectations and assumptions regarding historical trends, current conditions and expected future developments, as well as other factors that we believe are reasonable and appropriate in the circumstances, readers are cautioned not to place undue reliance on these forward-looking statements as there is a risk that they may not be accurate. The forward-looking statements contained in this press release describe our expectations as of June 6, 2025 and, accordingly, are subject to change after such date. Important risks that could cause such differences include, but are not limited to, those found in the Management's Discussion & Analysis for the year ended March 31, 2025. Specifically, there can be no assurance as to how many shares, if any, will ultimately be acquired under CAE's NCIB. Except as required by law, we disclaim any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. The forward-looking information and statements contained in this press release are expressly qualified by this cautionary statement. In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on information available to us as of the date of this press release. While we believe that information provides a reasonable basis for these statements, that information may be limited or incomplete. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements. Except as otherwise indicated by CAE, forward-looking statements do not reflect the potential impact of any special items or of any dispositions, monetizations, mergers, acquisitions, other business combinations or other transactions that may occur after June 6, 2025. The financial impact of these transactions and special items can be complex and depends on the facts particular to each of them. We therefore cannot describe the expected impact in a meaningful way or in the same way we present known risks affecting our business. Forward-looking statements are presented in this press release for the purpose of assisting investors and others in understanding certain key elements of CAE's NCIB. Readers are cautioned that such information may not be appropriate for other purposes. CAE Contacts:
Cision Canada
27 minutes ago
- Cision Canada
Intact Financial Corporation Announces Successful Completion of Consent and Proxy Solicitation Regarding $2.9 Billion Aggregate Principal of Medium Term Notes Français
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TORONTO, June 6, 2025 /CNW/ - Intact Financial Corporation (TSX: IFC) (" Intact" or the " Company") announced today that, in connection with its previously announced consent and proxy solicitation, it has received the requisite written consents to amend the indenture governing 10 series of Canadian dollar-denominated medium term notes representing $2.9 billion aggregate principal amount. As previously announced, Intact solicited written consents and proxies (the " Consent and Proxy Solicitation") whereby holders (collectively, " Noteholders") of Intact's outstanding Series 2 6.40% unsecured medium term notes due November 23, 2039, Series 3 6.20% unsecured medium term notes due July 8, 2061, Series 5 5.16% unsecured medium term notes due June 16, 2042, Series 6 3.77% unsecured medium term notes due March 2, 2026, Series 7 2.85% unsecured medium term notes due June 7, 2027, Series 9 1.928% unsecured medium term notes due December 16, 2030, Series 10 2.954% unsecured medium term notes due December 16, 2050, Series 12 2.179% unsecured medium term notes due May 18, 2028, Series 13 3.765% unsecured medium term notes due May 20, 2053 and Series 14 5.276% unsecured medium term notes due September 14, 2054 (collectively, the " Applicable Medium Term Notes") issued under the trust indenture between Intact, as issuer, and Computershare Trust Company of Canada (the " Trustee"), as trustee, dated as of May 21, 2009, as amended (the " Indenture"), were asked to consider an amendment by way of Extraordinary Resolution (as defined in the Indenture) (the " Amendment Resolution"), the full text of which is set forth within the joint consent and proxy solicitation statement (as it may be amended or supplemented, the " Consent and Proxy Solicitation Statement"), to approve a proposed amendment (the " Proposed Amendment") to the Indenture solely as it relates to the Applicable Medium Term Notes as described in the Consent and Proxy Solicitation Statement, and to authorize Intact, at its option, and the Trustee to enter into a supplemental indenture (the " Supplemental Indenture") pursuant to which the Proposed Amendment will come into force, all subject to the terms and conditions set forth in the Consent and Proxy Solicitation Statement. The deadline for written consent expired at 5:00 p.m. (Toronto time) on June 5, 2025 (the " Written Consent Deadline"). Intact required the written consent of the holders of not less than 66 2/3% of the aggregate principal amount of the outstanding Applicable Medium Term Notes to consent to the Proposed Amendment. As at the Written Consent Deadline, Noteholders representing in excess of 66 2/3% of the aggregate outstanding principal amount of the Applicable Medium Term Notes consented to the Proposed Amendment. Intact and the Trustee will promptly execute the Supplemental Indenture pursuant to which the Proposed Amendment will come into force. The Supplemental Indenture will be effective when executed. Because the Amendment Resolution was passed by written consent of the Noteholders by the Written Consent Deadline, the meeting of the Noteholders that was previously scheduled for 2:00 p.m. (Toronto time) on June 12, 2025 is cancelled. Noteholders as of 5:00 p.m. (Toronto time) on May 7, 2025 who authorized and directed their CDS Participant (as defined in the Consent and Proxy Solicitation Statement) to elect to consent to the Proposed Amendment, and whose CDS Participant made such election prior to the Written Consent Deadline will receive a consent fee of $1.00 per $1,000 principal amount of Applicable Medium Term Notes held (the " Consent Fee"). Noteholders who failed to deliver a valid written consent prior to the Written Consent Deadline will not be entitled to receive the Consent Fee. This press release is for informational purposes only and does not amend the Consent and Proxy Solicitation, which has expired on the terms and subject to the conditions set forth in the Consent and Proxy Solicitation Statement. Any persons with questions regarding the Consent and Proxy Solicitation should contact: About Intact Financial Corporation Intact Financial Corporation (TSX: IFC) is the largest provider of Property and Casualty (P&C) insurance in Canada, a leading Specialty lines insurer with international expertise and a leader in Commercial lines in the UK and Ireland. The business has grown organically and through acquisitions to almost $24 billion of total annual operating direct premiums written (DPW). In Canada, Intact distributes insurance under the Intact Insurance brand through agencies and a wide network of brokers, including its wholly- owned subsidiary BrokerLink. Intact also distributes directly to consumers through the belairdirect brand and affinity partnerships. Additionally, Intact provides exclusive and tailored offerings to high-net-worth customers through Intact Prestige. In the US, Intact Insurance Specialty Solutions provides a range of Specialty insurance products and services through independent agencies, regional and national brokers, wholesalers and managing general agencies. Across the UK, Ireland, and Europe, Intact provides Personal, Commercial and/or Specialty insurance solutions through the RSA, NIG and FarmWeb brands. Cautionary note regarding forward-looking statements Certain of the statements included in this press release about the Consent and Proxy Solicitation, including statements regarding the finalization of the Consent and Proxy Solicitation process, the payment of the Consent Fee, and the intent and timing of the implementation of the Proposed Amendment and execution of the Supplemental Indenture, or any other future events or developments, constitute forward-looking statements. The words "may", "will", "would", "should", "could", "expects", "plans", "intends", "trends", "indications", "anticipates", "believes", "estimates", "predicts", "likely", "potential" or the negative or other variations of these words or other similar or comparable words or phrases, are intended to identify forward-looking statements. Unless otherwise indicated, all forward-looking statements in this press release are made as of the date hereof and are subject to change. Forward-looking statements are based on estimates and assumptions made by management based on management's experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management believes are appropriate in the circumstances. Many factors could cause the Company's actual results, performance or achievements or future events or developments to differ materially from those expressed or implied by the forward-looking statements. In addition to other estimates and assumptions which may be identified herein, estimates and assumptions have been made regarding, among other things, the terms and conditions of the Consent and Proxy Solicitation and Proposed Amendment and the timing of the implementation of the Proposed Amendment. All of the forward-looking statements included in this press release are qualified by these cautionary statements and those made in the section entitled Risk Management (Sections 25 and 28) included in IFC's management's discussion and analysis for the year ended December 31, 2024 and IFC's annual information form for the year ended December 31, 2024 and those made in the section entitled Risk Management (Section 14) included in IFC's management's discussion and analysis for the quarter ended March 31, 2025, all of which are available on the Company's website at and on SEDAR+ at These factors are not intended to represent a complete list of the factors that could affect the Company. These factors should, however, be considered carefully. Although the forward-looking statements are based upon what management believes to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. Investors should not rely on forward-looking statements to make decisions, and investors should ensure the preceding information is carefully considered when reviewing forward-looking statements made in this press release. The Company has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Disclaimer This press release shall not constitute or form part of an offer to sell or the solicitation of an offer to buy or subscribe for any securities in the United States or in any other jurisdiction where such offer is unlawful nor shall it or any part of it form the basis of or be relied on in connection with, or act as any inducement to enter into, any contract or commitment whatsoever. The information contained in this press release concerning the Company and the Consent and Proxy Solicitation does not purport to be all-inclusive or to contain all the information that an investor may desire to have in evaluating whether or not to approve the Proposed Amendment. The information is qualified entirely by reference to the Consent and Proxy Solicitation Statement and to the Company's publicly disclosed information and the cautionary note regarding forward-looking statements included in this press release. No representation or warranty, express or implied, is made or given by or on behalf of the Company or any of its the directors, officers or employees as to the accuracy, completeness or fairness of the information or opinions contained in this press release and no responsibility or liability is accepted by any person for such information or opinions. In furnishing this press release, the Company does not undertake or agree to any obligation to provide investors with access to any additional information or to update this press release or to correct any inaccuracies in, or omissions from, this press release that may become apparent. The information and opinions contained in this press release are provided as at the date of this press release. The contents of this press release are not to be construed as legal, financial or tax advice. Each investor should contact his, her or its own legal adviser, independent financial adviser or tax adviser for legal, financial or tax advice. Any website address included in this press release is an inactive textual reference only and information appearing on such website is not part of, and is not incorporated by reference in, this press release. SOURCE Intact Financial Corporation
Cision Canada
27 minutes ago
- Cision Canada
Mackenzie Investments Announces Results of Special Meetings on Mutual Fund Investment Objective Change Français
TORONTO, June 6, 2025 /CNW/ - Mackenzie Investments ("Mackenzie") today announced the results of a special meeting held Thursday, June 5, 2025, where investors approved a proposed investment objective change to the Mackenzie Cundill Canadian Balanced Fund (the "Fund"). Effective on or about June 27, 2025, the Fund's allocation range will be moved from its investment objectives to its investment strategies. The Fund's investment strategies will be revised to increase the maximum allocation to equity securities in the portfolio from 60–70 per cent to 60–90 per cent and decrease the minimum allocation to fixed income securities from 30–40 per cent to 10–40 per cent. For more information on the proposed investment objective change announced March 5, 2025, please see: Mackenzie Investments Announces Changes to Select Mutual Funds About Mackenzie Investments Mackenzie Investments ("Mackenzie") is a Canadian investment management firm with approximately $213 billion in assets under management as of April 30, 2025. Mackenzie seeks to create a more invested world by delivering strong investment performance and offering innovative portfolio solutions and related services to more than one million retail and institutional clients through multiple distribution channels. Founded in 1967, it is a global asset manager with offices across Canada as well as in Beijing, Boston, Dublin, Hong Kong and London. Mackenzie is a member of IGM Financial Inc. (TSX: IGM), part of the Power Corporation group of companies and one of Canada's leading diversified wealth and asset management organizations with approximately $269 billion in total assets under management and advisement as of April 30, 2025. For more information, visit
