IGM FINANCIAL INC. ANNOUNCES JULY 2025 ASSETS UNDER MANAGEMENT & ADVISEMENT AND NET FLOWS
JULY HIGHLIGHTS
IGM Financial – Record high assets under management & advisement were $287.9 billion up from $283.9 billion in the prior month. Investment fund net sales were $375 million up from net sales of $197 million in July 2024. Total net inflows were $1.1 billion up from net inflows of $62 million in July 2024.
IG Wealth Management (IGWM) – Record high Assets under advisement were $148.4 billion up from $146.7 billion in the prior month. Investment fund net sales were $192 million down from net sales of $270 million in July 2024. Total net inflows were $203 million down from net inflows of $261 million in July 2024. Gross inflows and gross sales each reached a record high of $1.3 billion in July 2025.
Mackenzie Investments – Record high assets under management were $227.6 billion up from $224.6 billion in the prior month. Investment fund net sales were $183 million up from net redemptions of $73 million in July 2024. Total net sales of $910 million (3) up from net redemptions of $199 million in July 2024.
Table 2 – Assets under Management and Advisement
($ millions) (unaudited)
July
2025
June
2025
% Change
Last Month
Wealth Management
IG Wealth Management
Assets under management
131,109
129,526
1.2 %
Other assets under advisement
17,316
17,138
1.0 %
Assets under advisement
148,425
146,664
1.2 %
Asset management
Mackenzie Investments
Mutual funds
63,220
62,488
1.2 %
ETFs
8,959
8,682
3.2 %
Investment funds
72,179
71,170
1.4 %
Institutional SMA
13,038
12,023
8.4 %
Sub-advisory to Canada Life
54,240
54,032
0.4 %
Total Institutional SMA
67,278
66,055
1.9 %
Total third party assets under management
139,457
137,225
1.6 %
Sub-advisory and AUM to Wealth Management
88,187
87,352
1.0 %
Total
227,644
224,577
1.4 %
ETF's distributed to third parties
8,959
8,682
3.2 %
ETF's held within IGM managed products
10,209
10,047
1.6 %
Total ETFs
19,168
18,729
2.3 %
Total
Assets under management
270,566
266,751
1.4 %
Other assets under advisement
17,316
17,138
1.0 %
Assets under management and advisement
287,882
283,889
1.4 %
Table 3 – Average Assets under Management and Advisement
($ millions) (unaudited)
Quarter to date 2025
Wealth Management
IG Wealth Management
Assets under management
130,369
Other assets under advisement
17,282
Assets under advisement (2)
147,651
Asset Management
Mackenzie Investments
Mutual funds
62,906
ETFs
8,835
Investment funds
71,741
Institutional SMA
12,531
Sub-advisory to Canada Life
54,135
Total Institutional SMA
66,666
Total third party assets under management
138,407
Sub-advisory and AUM to Wealth Management
87,762
Total
226,169
ETFs distributed to third parties
8,835
ETFs held within IGM managed products
10,114
Total ETFs
18,949
Total
Assets under management
268,776
Other assets under advisement
17,282
Assets under management and advisement
286,058
1
Excludes sub-advisory to Canada Life and the Wealth Management segment.
2
The figures shown for IG Wealth Management assets under advisement reflect a daily average. For reference, the simple quarterly average based on month end values is $147,545 million.
3
During July 2025, Mackenzie onboarded a previously announced institutional award of $614 million. Additionally, there were net purchases of $151 million during July 2025 within the suite of products that Mackenzie sub-advises to where we disclosed outflows of $320 million in April 2025.
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.
ABOUT IGM FINANCIAL INC.
IGM Financial Inc. ("IGM", TSX: IGM) is a leading Canadian diversified wealth and asset management organization with approximately $288 billion in total assets under management and advisement as of July 31, 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.
SOURCE IGM Financial Inc.
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DISCLAIMER: Nothing in this publication should be considered as personalized financial advice. We are not licensed under securities laws to address your particular financial situation. No communication by our employees to you should be deemed as personalized financial advice. Please consult a licensed financial advisor before making any investment decision. This is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Equity Insider is a wholly-owned subsidiary of Market IQ Media Group, Inc. ("MIQ"). This article is being distributed for media corp, who has been paid a fee for an advertising from a shareholder of the Company (333,333 unrestricted shares). MIQ has not been paid a fee for Lake Victoria Gold Ltd. advertising or digital media, but the owner/operators of MIQ also co-owns Media Corp. ("BAY") There may also be 3rd parties who may have shares of Lake Victoria Gold Ltd. and may liquidate their shares which could have a negative effect on the price of the stock. This compensation constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. Because of this conflict, individuals are strongly encouraged to not use this publication as the basis for any investment decision. The owner/operator of MIQ/BAY own shares of Lake Victoria Gold Ltd and reserve the right to buy and sell, and will buy and sell shares of Lake Victoria Gold Ltd. at any time without any further notice commencing immediately and ongoing. We also expect further compensation as an ongoing digital media effort to increase visibility for the company, no further notice will be given, but let this disclaimer serve as notice that all material, including this article, which is disseminated by MIQ on behalf of BAY has been approved by Lake Victoria Gold Ltd. Technical information relating to Lake Victoria Gold Ltd. has been reviewed and approved by David Scott, Pr. Sci. Nat., a Qualified Person as defined by National Instrument 43-101. Mr. Scott is a registered member of the South African Council for Natural Scientific Professions (SACNASP) and is a Director of Lake Victoria Gold Ltd., and therefore is not independent of the Company; this is a paid advertisement, we currently own shares of Lake Victoria Gold Ltd. and will buy and sell shares of the company in the open market, or through private placements, and/or other investment vehicles. While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
