IGM FINANCIAL INC. ANNOUNCES APRIL 2025 ASSETS UNDER MANAGEMENT & ADVISEMENT AND NET FLOWS Français
WINNIPEG, MB, May 5, 2025 /CNW/ - IGM Financial Inc. (IGM) (TSX: IGM) today reported total assets under management and advisement of $269.5 billion at April 30, 2025, up 9.2% from $246.7 billion at April 30, 2024. Total consolidated net outflows were $430 million during April 2025.
APRIL HIGHLIGHTS
IGM Financial – Assets under management & advisement were $269.5 billion compared to $275.0 billion in the prior month. Investment fund net sales were $36 million up from net redemptions of $470 million in April 2024. Total net outflows were $430 million compared net outflows of $253 million in April 2024.
IG Wealth Management (IGWM) – Assets under advisement were $139.1 billion compared to $141.5 billion in the prior month. Investment fund net sales were $58 million (2) up from net redemptions of $269 million in April 2024. Total net outflows were $85 million compared to net outflows of $192 million in April 2024. Record high April 2025 gross sales of $1.3 billion, up from $1.1 billion in April 2024.
Mackenzie Investments –Assets under management were $213.7 billion compared to $218.6 billion in the prior month. Investment fund net redemptions were $22 million compared to net redemptions of $201 million in April 2024. Total net redemptions were $345 million (2) (3) compared to net redemptions of $61 million in April 2024.
Table 2 – Assets under Management and Advisement
($ millions) (unaudited)
April
2025
March
2025
% Change
Last Month
Wealth Management
IG Wealth Management
Assets under management
122,505
124,645
(1.7 %)
Other assets under advisement
16,546
16,884
(2.0 %)
Assets under advisement
139,051
141,529
(1.8 %)
Asset management
Mackenzie Investments
Mutual funds
59,351
60,885
(2.5 %)
ETFs
7,896
7,874
0.3 %
Investment funds
67,247
68,759
(2.2 %)
Institutional SMA
11,155
11,787
(5.4 %)
Sub-advisory to Canada Life
52,039
52,951
(1.7 %)
Total Institutional SMA
63,194
64,738
(2.4 %)
Total third party assets under management
130,441
133,497
(2.3 %)
Sub-advisory and AUM to Wealth Management
83,305
85,136
(2.2 %)
Total
213,746
218,633
(2.2 %)
ETF's distributed to third parties
7,896
7,874
0.3 %
ETF's held within IGM managed products
9,092
9,108
(0.2 %)
Total ETFs
16,988
16,982
(0.0 %)
Total
Assets under management
252,946
258,142
(2.0 %)
Other assets under advisement
16,546
16,884
(2.0 %)
Assets under management and advisement
269,492
275,026
(2.0 %)
Table 3 - Average Assets under Management and Advisement
($ millions) (unaudited)
Quarter to date 2025
Wealth Management
IG Wealth Management
Assets under management
119,981
Other assets under advisement
16,344
Assets under advisement
136,325
Asset Management
Mackenzie Investments
Mutual funds
58,068
ETFs
7,592
Investment funds
65,660
Institutional SMA
11,471
Sub-advisory to Canada Life
52,486
Total Institutional SMA
63,957
Total third party assets under management
129,617
Sub-advisory and AUM to Wealth Management
83,839
Total
213,456
ETFs distributed to third parties
7,592
ETFs held within IGM managed products
8,979
Total ETFs
16,571
Total
Assets under management
249,598
Other assets under advisement
16,344
Assets under management and advisement
265,941
1 Excludes sub-advisory to Canada Life and the Wealth Management segment.
2 During April 2025, IG Wealth Management pension redeemed $24 million that was re-allocated to a Separately Managed Account managed by Mackenzie.
3 During April 2025, an institutional investor redeemed $320 million within products that Mackenzie sub-advises.
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.
IGM Financial Inc. ("IGM", TSX: IGM) is a leading Canadian diversified wealth and asset management organization with approximately $269 billion in total assets under management and advisement as of April 30, 2025. The company is committed to bettering the lives of Canadians by better planning and managing their money. To achieve this, IGM provides a broad range of financial planning and investment management services to help approximately two million Canadians meet their financial goals. IGM's activities are carried out principally through IG Wealth Management and Mackenzie Investments and are complimented by strategic positions in wealth managers Rockefeller Capital Management and Wealthsimple and asset managers ChinaAMC and Northleaf Capital. These strengthen IGM's capabilities, reach and diversification. IGM is a member of the Power Corporation group of companies. For more information, visit igmfinancial.com
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