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    IGM   CA4495861060

IGM FINANCIAL INC.

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

04/07/2021 | 05:58pm EDT

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

-2-

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%

Page | 2

-3-

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.

Page | 3

-4-

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

nini.krishnappa@igmfinancial.com

investor.relations@igmfinancial.com

Page | 4

Disclaimer

IGM Financial Inc. published this content on 07 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 April 2021 21:57:04 UTC.


© Publicnow 2021
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J. Luke Gould Chief Financial Officer & Executive Vice President
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