IGM Financial : Announces March 2021 Record High Net Flows and Assets Under Management & Advisemen

IGM FINANCIAL INC. ANNOUNCES MARCH 2021

RECORD HIGH NET FLOWS AND ASSETS UNDER MANAGEMENT & ADVISEMENT

Winnipeg - April 7, 2021: IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary total consolidated net flows of $637 million during March 2021 as shown in Table 1. Total assets under management and advisement were $248.5 billion at March 31, 2021, compared with $243.5 billion at February 28, 2021, and $169.4 billion at March 31, 2020. Assets under management and advisement are shown in Table 2.

MARCH HIGHLIGHTS

IGM Financial - Record high assets under management & advisement of $248.5 billion, up 2.0% in the month and up 3.6% year to date. March 2021 net inflows of $637 million up from ($196) million in March 2020. For the quarter ended March 2021, net inflows were $2.2 billion, an all-time best quarter result and up from $821 million in quarterly net inflows in 2020.

IG Wealth - Record high assets under advisement of $107.0 billion, up 1.9% in the month and up 3.6% year to date. March 2021 net inflows of $220 million up from net inflows of $132 million in March 2020. For the quarter ended March 2021, net inflows were $1.0 billion, the best quarter result in over two decades and up from $381 million in quarterly net inflows in 2020.

Mackenzie - Record high assets under management of $191.6 billion, up 2.4% in the month and up 2.6% year to date. March 2021 net sales were $492 million, up from ($380) million in March 2020. For the quarter ended March 2021, net sales were $1.5 billion of which $1.9 billion was retail. This was an all-time record high, and an improvement from net sales of $351 million in 2020 of which $194 million was retail.

Table 1 - Gross and Net Flows

Please see www.igmfinancial.comfor file with trended history.

					Asset
	Wealth Management			Management	IGM
	IG Wealth	Investment
($ millions) (unaudited)	Management	Planning Counsel	Total		Mackenzie(3)	Financial

For the month ended March 31, 2021

Net flows

Mutual fund net sales ETF net creations Investment fund net sales Institutional SMA net sales Managed asset net sales Mackenzie Investment Fund net sales

IGM Product net sales

Other dealer net flows

Gross flows

Mutual fund gross sales Dealer gross inflows

220.3	26.4	247.4	492.1	636.5(4)
48.0	(50.5)	(2.5)	535.9(1)	533.4
-	-	-	100.9(2)	100.9
48.0	(50.5)	(2.5)	636.8	634.3
-	-	-	(144.7)	(144.7)
48.0	(50.5)	(2.5)	492.1	489.6
85.6	17.4	103.0(4)
133.6	(33.1)	100.5
86.7	59.5	146.9	-	146.9
1,115.8	74.4	1,190.2	1,745.5	2,935.7
1,210.4	551.4	1,761.8	-	1,761.8

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Table 2 - Assets under Management and Advisement
	March	February	% Change
($ millions) (unaudited)	2021	2021	Last Month
Wealth Management
IG Wealth Management	100,745	98,969
Assets under management	1.8%
Other assets under advisement	6,250	6,064	3.1%
Assets under advisement	106,995	105,033	1.9%
IPC	5,308	5,295	0.2%
Assets under management
Other assets under advisement	24,583	24,239	1.4%
Assets under advisement	29,891	29,534	1.2%
Total	106,053	104,264	1.7%
Assets under management
Other assets under advisement	30,823	30,293	1.7%
Assets under advisement	136,876	134,557	1.7%
Asset management
Mackenzie(3)	58,137	56,474	2.9%
Total Mutual funds
ETFs	4,174	4,103	1.7%
Investment funds	62,311	60,577	2.9%
Institutional SMA	53,213	52,125	2.1%
Total
115,524	112,702	2.5%
Sub-advisory to Wealth Management	76,041	74,284	2.4%
Total	191,565	186,986	2.4%
ETF's distributed to third parties	4,174	4,103	1.7%
ETF's held within IGM managed products	5,359	5,395	(0.7%)
Total ETFs	9,533	9,498	0.4%
Consolidated	221,577	216,966	2.1%
Assets under management
Other assets under advisement	26,897	26,534	1.4%
Assets under management and
advisement(5)	248,474	243,500	2.0%

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Preliminary average assets under management and advisement for the quarter to date are set out in Table 3.

Table 3 - Average Assets under Management and Advisement
($ millions) (unaudited)	Quarter to date 2021
Wealth Management
IG Wealth Management
Assets under management	99,564
Other assets under advisement	5,927
Assets under advisement	105,491
IPC
Assets under management	5,335
Other assets under advisement	24,056
Assets under advisement	29,391
Total
Assets under management	104,899
Other assets under advisement	29,974
Assets under advisement	134,873
Asset management
Mackenzie(3)
Mutual funds	56,615
ETFs	4,032
Investment funds	60,647
Institutional SMA	52,071
Total	112,718
Sub-advisory to Wealth Management	74,495
Total	187,213
ETFs distributed to third parties	4,032
ETFs held within IGM managed products	5,088
Total ETFs	9,120
Consolidated
Assets under management	217,617
Other assets under advisement	26,253
Assets under management and advisement(6)	243,870

1. During March 2021, an institutional investor which includes Mackenzie mutual funds in its investment offerings made fund allocation changes resulting in gross sales of $367.3 million, redemptions of $417.2 million and net sales of ($49.9) million.
2. ETF net creations excludes ($56.6) million in ETF net creations to IGM managed products.
3. Excludes sub-advisory to Wealth Management segment.
4. $103.0 million in Mackenzie investment fund net flows through the Wealth Management segment have been eliminated on consolidation.
5. Within total assets under management and advisement, $3.9 billion in Mackenzie investment funds distributed through the Wealth Management segment eliminates on consolidation at March 31, 2021. ($3.7 billion at February 28, 2021).
6. Within average total assets under management and advisement, $3.7 billion in Mackenzie mutual funds distributed through the Wealth Management segment eliminates on consolidation.

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Glossary of Terms

Mutual fund gross sales, net sales and assets under management 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 through separately managed accounts.

"Other dealer net flows" and "other assets under advisement" represents financial savings products held within client accounts at the Wealth Management operating companies 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."

"Assets under advisement" represents all savings products held within client accounts at the Wealth Management operating companies.

"Net flows" represents the total net contributions, in cash or in kind, to client accounts at the Wealth Management operating companies and the overall net sales to the Asset Management segment.

"Wealth Management" - Reflects the activities of operating companies that are principally focused on providing financial planning and related services to Canadian households. This segment includes the activities of IG Wealth Management and Investment Planning Counsel. These firms are retail distribution organizations who serve 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.

IGM Financial Inc. is one of Canada's leading diversified wealth and asset management companies with approximately $248 billion in total assets under management and advisement. The company provides a broad range of financial planning and investment management services to help more than two million Canadians meet their financial goals. Its activities are carried out principally through IG Wealth Management, Mackenzie Investments and Investment Planning Counsel. IGM Financial is a member of the Power Corporation group of companies.

For more information contact:

Media Relations:	Investor Relations:
Nini Krishnappa	Keith Potter
647-828-2553	204-955-2404
[e-mail]	[e-mail]

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