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Cision Canada
2 days ago
- Business
- Cision Canada
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.
Yahoo
13-05-2025
- Business
- Yahoo
IGM Financial (TSE:IGM) Has Announced A Dividend Of CA$0.5625
IGM Financial Inc. (TSE:IGM) has announced that it will pay a dividend of CA$0.5625 per share on the 31st of July. This makes the dividend yield 5.1%, which will augment investor returns quite nicely. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. While it is great to have a strong dividend yield, we should also consider whether the payment is sustainable. Prior to this announcement, IGM Financial's dividend was comfortably covered by both cash flow and earnings. This means that a large portion of its earnings are being retained to grow the business. Looking forward, earnings per share is forecast to fall by 1.9% over the next year. Assuming the dividend continues along recent trends, we believe the payout ratio could be 58%, which we are pretty comfortable with and we think is feasible on an earnings basis. View our latest analysis for IGM Financial The company has been paying a dividend for a long time, and it has been quite stable which gives us confidence in the future dividend potential. The annual payment during the last 10 years was CA$2.15 in 2015, and the most recent fiscal year payment was CA$2.25. Its dividends have grown at less than 1% per annum over this time frame. Slow and steady dividend growth might not sound that exciting, but dividends have been stable for ten years, which we think makes this a fairly attractive offer. Some investors will be chomping at the bit to buy some of the company's stock based on its dividend history. It's encouraging to see that IGM Financial has been growing its earnings per share at 5.2% a year over the past five years. Shareholders are getting plenty of the earnings returned to them, which combined with strong growth makes this quite appealing. In summary, it is good to see that the dividend is staying consistent, and we don't think there is any reason to suspect this might change over the medium term. The company is generating plenty of cash, and the earnings also quite easily cover the distributions. However, it is worth noting that the earnings are expected to fall over the next year, which may not change the long term outlook, but could affect the dividend payment in the next 12 months. Taking this all into consideration, this looks like it could be a good dividend opportunity. It's important to note that companies having a consistent dividend policy will generate greater investor confidence than those having an erratic one. At the same time, there are other factors our readers should be conscious of before pouring capital into a stock. Companies that are growing earnings tend to be the best dividend stocks over the long term. See what the 5 analysts we track are forecasting for IGM Financial for free with public analyst estimates for the company. Is IGM Financial not quite the opportunity you were looking for? Why not check out our selection of top dividend stocks. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Cision Canada
09-05-2025
- Business
- Cision Canada
IGM Financial Inc. Announces Election of Directors Français
TORONTO, May 9, 2025 /CNW/ - IGM Financial Inc. (TSX: IGM) held its Annual Meeting of Shareholders earlier today. All of the nominees for election as directors listed in its management proxy circular dated February 24, 2025 were elected by a majority of the votes cast by ballot or represented by proxy at the meeting. The results of the vote by ballot are set out below. 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
Cision Canada
08-05-2025
- Business
- Cision Canada
IGM FINANCIAL REPORTS FIRST QUARTER EARNINGS Français
Readers are referred to the disclaimer regarding Forward-Looking Statements, Non-IFRS Financial Measures and Other Financial Measures at the end of this Release. WINNIPEG, MB, /CNW/ - IGM Financial Inc. (IGM or the Company) (TSX: IGM) today announced earnings results for the first quarter of 2025. IGM Highlights Record high first quarter adjusted net earnings 1 were $237.8 million compared to $224.5 million in the first quarter of 2024, an increase of 5.9%. Record high first quarter adjusted earnings per share 1 were $1.00 compared to $0.94 in the first quarter of 2024. Net earnings of $233.8 million increased by 4.7% from $223.4 million in the first quarter of 2024. Earnings per share of $0.98 compared to $0.94 in the first quarter of 2024. Record high quarter-end assets under management and advisement of $275.0 billion, up 9.1% from the first quarter of 2024 and up 1.7% from the prior quarter. IGM's assets under management and advisement including strategic investments were an all-time high of $503.6 billion compared with $483.5 billion at December 31, 2024 and $422.8 billion at March 31, 2024. Net inflows were $4.2 billion compared to net outflows of $128 million in 2024. "Record high first quarter adjusted net earnings per share of $1.00 were driven by quarter-end assets under management and advisement of $275.0 billion," said James O'Sullivan, President and Chief Executive Officer of IGM Financial Inc. "This was driven by strong results at both IG Wealth Management and Mackenzie Investments, with IG Wealth Management reporting record high gross client inflows of $4.2 billion in the quarter, up 12.6% from 2024, and Mackenzie Investments onboarding $3.6 billion of institutional assets in the quarter." Wealth Management Reflects the activities of its core business and strategic investments that are principally focused on providing financial planning and related services. This segment includes the activities of IG Wealth Management, the Company's investments in Rockefeller Capital Management (Rockefeller) and Wealthsimple Financial Corp. (Wealthsimple). Adjusted net earnings available to common shareholders in the first quarter of 2025 were $124.3 million, an increase of 11.8% compared to the first quarter of 2024, and represented 52.3% of IGM's adjusted net earnings available to common shareholders. Assets under advisement including strategic investments at March 31, 2025 were $206.8 billion, an increase of 2.2% from $202.4 billion at December 31, 2024 and an increase of 17.5% from $176.0 billion at March 31, 2024. IG Wealth Management Record high quarter-end assets under advisement at March 31, 2025 were $141.5 billion, an increase of 0.8% from $140.4 billion at December 31, 2024 and an increase of 10.6% from $128.0 billion at March 31, 2024. Quarterly net client inflows were $718 million, compared to net client inflows of $46 million in the first quarter of 2024. 2 Record high quarterly gross client inflows were $4.2 billion, an increase of 12.6% from 2024. ASSET MANAGEMENT Reflects the activities of its core business and strategic investments primarily focused on providing investment management services. This segment includes the operations of Mackenzie Investments and the Company's investments in China Asset Management Co., Ltd. (ChinaAMC) and Northleaf Capital Group Ltd. (Northleaf). Adjusted net earnings available to common shareholders in the first quarter of 2025 were $86.5 million, compared to $86.8 million in the first quarter of 2024, and represented 36.4% of IGM's adjusted net earnings available to common shareholders. Assets under management including strategic investments at March 31, 2025 were $383.7 billion, an increase of 4.8% from $366.1 billion at December 31, 2024 and an increase of 17.2% from $327.4 billion at March 31, 2024. Mackenzie Investments Record high quarter-end total assets under management were $218.6 billion, an increase of 2.5% from $213.3 billion at December 31, 2024 and an increase of 7.3% from $203.7 billion at March 31, 2024. Third party assets under management were $133.5 billion at March 31, 2025, an increase of 2.7% from December 31, 2024 and an increase of 7.5% from March 31, 2024. Investment fund net redemptions were $85 million 3 compared to net redemptions of $194 million in the first quarter of 2024. Mutual fund gross sales were $2.6 billion, up 11.9% from the first quarter of 2024. ETF business – ETF assets under management totalled $17.0 billion at March 31, 2025, up from $15.5 billion at December 31, 2024 and $13.8 billion at March 31, 2024. Excluding investment in ETFs by IGM's managed products, ETF assets under management were $7.9 billion at March 31, 2025, compared to $7.3 billion at December 31, 2024 and $6.1 billion at March 31, 2024. ChinaAMC The Company's proportionate share of ChinaAMC's first quarter earnings was $30.6 million compared to $26.9 million in the first quarter of 2024. Corporate and other Represents the investments in Great-West Lifeco Inc. (Lifeco) and Portage Ventures LPs, as well as unallocated capital. Lifeco – The Company's proportionate share of Lifeco's first quarter earnings was $20.5 million 4 compared to $22.8 million in the first quarter of 2024. The Company's proportionate share of Lifeco's base earnings was $24.5 million compared to $23.9 million in the first quarter of 2024. Dividends The Board of Directors has declared a dividend of 56.25 cents per share on the Company's common shares which is payable on July 31, 2025 to shareholders of record on June 30, 2025. 1 A non-IFRS measure – see Non-IFRS Financial Measures and Other Financial Measures section of this press release. Adjusted net earnings exclude Other items. In 2025, Other items consisted of: • Lifeco other items of ($4.0) million recorded in the first quarter reflecting the Company's proportionate share of items Lifeco excludes from its base earnings (Lifeco other items). Base earnings is an alternate measure Lifeco uses to understand the underlying business performance compared to IFRS net earnings. In 2024, Other items consisted of: • Lifeco other items of ($1.1) million recorded in the first quarter. 2 In the first quarter of 2024, the IG Wealth Management pension plan redeemed $177 million from IG Wealth Management mutual funds that was re-allocated into a separately managed account managed by Mackenzie. 3 In the first quarter of 2025, an institutional investor which includes Mackenzie mutual funds in its product offerings made fund allocation changes resulting in redemptions of $144 million. 4 The Company records its proportionate share of Lifeco earnings based on actual earnings. Forward-looking Statements Certain statements in this Release, other than statements of historical fact, are forward-looking statements based on certain assumptions and reflect IGM Financial Inc.'s (IGM Financial, IGM or the Company) and, where applicable, its subsidiaries' and strategic investments', current expectations. Forward-looking statements are provided to assist the reader in understanding the Company's, and its subsidiaries and strategic investments, financial position and results of operations as at and for the periods ended on certain dates and to present information about management's current expectations and plans relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes. These statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of the Company, and its subsidiaries and strategic investments, as well as the outlook for North American and international economies, for the current fiscal year and subsequent periods. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "estimates", "seeks", "intends", "targets", "projects", "forecasts" or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". This information is based upon certain material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking statements, including the perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. While the Company considers these assumptions to be reasonable based on information currently available to management, they may prove to be incorrect. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, including environmental and social, strategic goals and priorities will not be achieved. A variety of material factors, many of which are beyond the Company's and its subsidiaries' and strategic investments' control, affect the operations, performance and results of the Company and its subsidiaries and strategic investments, and their businesses, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. These factors include, but are not limited to: the impact or unanticipated impact of general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, management of market liquidity and funding risks, changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates), the effect of applying future accounting changes, operational and reputational risks, environmental and social risks, business competition, technological change, changes in government regulations and legislation, changes in tax laws, the impact of trade relations, unexpected judicial or regulatory proceedings, catastrophic events, outbreaks of disease or pandemics (such as COVID-19), the Company's ability to complete strategic transactions, integrate acquisitions and implement other growth strategies, and the Company's and its subsidiaries' and strategic investments' success in anticipating and managing the foregoing factors. The reader is cautioned that the foregoing list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. The reader is also cautioned to consider these and other factors, uncertainties and potential events carefully and not place undue reliance on forward-looking statements. Other than as specifically required by applicable Canadian law, the Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which such statements are made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise. Additional information about the risks and uncertainties of the Company's business and material factors or assumptions on which information contained in forward-looking statements is based is provided in its disclosure materials filed with the securities regulatory authorities in Canada, available at Non-IFRS Financial Measures and Other Financial Measures This report contains Non-IFRS financial measures and non-IFRS ratios that do not have standard meanings prescribed by International Financial Reporting Standards (IFRS) and may not be directly comparable to similar measures used by other companies. These measures and ratios are used to provide management, investors and investment analysts with additional measures to assess earnings performance. Non-IFRS financial measures include, but are not limited to, "adjusted net earnings available to common shareholders", "adjusted net earnings", "adjusted earnings before income taxes", "adjusted earnings before interest and taxes" (Adjusted EBIT), "earnings before interest, taxes, depreciation and amortization before sales commissions" (EBITDA before sales commissions), and "earnings before interest, taxes, depreciation and amortization after sales commissions" (EBITDA after sales commissions). These measures exclude other items which are items of a non-recurring nature, or that could make the period-over-period comparison of results from operations less meaningful. Effective in the first quarter of 2024, these measures also exclude the Company's proportionate share of items that Great-West Lifeco Inc. (Lifeco) excludes from its IFRS reported net earnings in arriving at Lifeco's base earnings. Base earnings is an alternate measure Lifeco uses to understand the underlying business performance compared to IFRS net earnings. Lifeco's financial information can be obtained in its disclosure materials filed on Comparative periods have been restated to reflect this change. EBITDA before sales commissions excludes all sales commissions. EBITDA after sales commissions includes all sales commissions and highlights aggregate cash flows. Non-IFRS ratios include the following: Refer to the appropriate reconciliations of non-IFRS financial measures, including as components of non-IFRS ratios, to reported results in accordance with IFRS included in IGM Financial Inc.'s most recent Management's Discussion and Analysis. This report also contains other financial measures which include: 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 IGM Financial's reporting such that there is no double-counting of the same client savings held at IGM Financial's core businesses. 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 business. Assets Under Management (AUM) are the key driver of the Asset Management segment. AUM are an additional 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. Assets Under Management and Advisement Including Strategic Investments (AUM&A Including SI) represents AUM&A including the Company's proportionate share of the AUM&A of strategic investments based on the Company's interest in the strategic investments. The strategic investments included are those whose activities are primarily in asset and wealth management, and include ChinaAMC, Northleaf, Rockefeller and Wealthsimple. Rockefeller client assets include assets under management and advisement as well as assets held for investment purposes and only receiving administrative services. FIRST QUARTER WEBCAST AND CONFERENCE CALL IGM Financial Inc.'s First Quarter 2025 results conference call and webcast will be held on Friday, May 9, 2025 at 8:00 a.m. ET. The webcast and conference call can be accessed respectively through or you may register to obtain a calendar booking with your dial in numbers, PIN and webcast links. Alternatively, dial 1-833-752-3519. The most recent Consolidated Financial Statements and Management's Discussion and Analysis (MD&A) of operating results are available on IGM Financial Inc.'s website at ABOUT IGM FINANCIAL INC. IGM Financial Inc. ("IGM", TSX: IGM) is a leading Canadian diversified wealth and asset management organization with approximately $269 billion in total assets under management and advisement as of April 30, 2025. The company is committed to bettering the lives of Canadians by better planning and managing their money. To achieve this, IGM provides a broad range of financial planning and investment management services to help approximately two million Canadians meet their financial goals. IGM's activities are carried out principally through IG Wealth Management and Mackenzie Investments and are complimented by strategic positions in wealth managers Rockefeller Capital Management and Wealthsimple and asset managers ChinaAMC and Northleaf Capital. These strengthen IGM's capabilities, reach and diversification. IGM is a member of the Power Corporation group of companies. For more information, visit IGM FINANCIAL INC. Financial Highlights As at and for the three months ended March 31 (unaudited) 2025 2024 Change Net earnings available to common shareholders ($ millions) Net Earnings $ 233.8 $ 223.4 4.7 % Adjusted Net Earnings (1) 237.8 224.5 5.9 Diluted earnings per share Net Earnings 0.98 0.94 4.3 Adjusted Net Earnings (1) 1.00 0.94 6.4 Return on equity Net Earnings 11.9 % 13.2 % Adjusted Net Earnings (1) 12.1 % 13.3 % Dividends per share 0.5625 0.5625 - Consolidated assets under management and advisement (AUM&A) (2) ($ millions) $ 275,026 $ 252,189 9.1 % Consolidated assets under management (2) 258,142 237,734 8.6 Wealth Management (IG Wealth Management) Assets under management (3) 124,645 113,566 Other assets under advisement 16,884 14,455 Assets under advisement 141,529 128,021 10.6 Asset Management (Mackenzie Investments) Investment funds 68,759 64,921 Institutional SMA 11,787 7,966 Sub-advisory to Canada Life 52,951 51,281 Total excluding sub-advisory to Wealth Management 133,497 124,168 Sub-advisory and AUM to Wealth Management 85,136 79,503 Total assets under management 218,633 203,671 7.3 Consolidated AUM&A including strategic investments 503,601 422,813 19.1 Consolidated AUM&A 275,026 252,189 Strategic investments (4) 228,575 170,624 Net Flows Wealth Asset ($ millions) Management (3) Management (5) Total (2) For the three months ended March 31, 2025 Investment fund net sales (6) $ 944 $ (85) $ 859 Institutional SMA net sales - 3,526 3,526 IGM product net sales 944 3,441 4,385 Other dealer net flows (226) - (226) Total net flows 718 3,441 4,159 SOURCE IGM Financial Inc.
Cision Canada
05-05-2025
- Business
- Cision Canada
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
