IGM FINANCIAL INC. ANNOUNCES FEBRUARY 2025 ASSETS UNDER MANAGEMENT & ADVISEMENT AND NET FLOWS

WINNIPEG, MB, March 5, 2025 /CNW/ - IGM Financial Inc. (IGM) (TSX: IGM) today reported total assets under management and advisement of $278.2 billion at February 28, 2025, up 12.4% from $247.5 billion at February 28, 2024. Total consolidated net inflows were $924 million during February 2025.

FEBRUARY HIGHLIGHTS

IGM Financial – Record high assets under management & advisement of $278.2 billion compared to $278.1 billion in the prior month.  Investment fund net sales were $521 million up from net sales of $164 million in February 2024. Total net inflows were $924 million up from net inflows of $343 million in February 2024.

IG Wealth Management (IGWM) – Record high assets under advisement of $144.6 billion compared to $144.4 billion in the prior month. Investment fund net sales were $525 million up from net sales of $160 million in February 2024. Total net inflows were $398 million up from net inflows of $361 million in February 2024.

Mackenzie Investments – Record high assets under management of $220.2 billion compared to $219.5 billion in the prior month. Investment fund net redemptions were $5 million compared to net sales of $4 million in February 2024. Total net sales were $526 million⁽³⁾ compared to net redemptions of $18 million in February 2024.

Table 1 - Gross and Net Flows  Please see www.igmfinancial.com for file with trended history.
		Wealth Management		Asset Management
($ millions) (unaudited)		IG Wealth Management		Mackenzie Investments	IGM Financial
For the month ended February 28, 2025
Net flows
	Mutual fund net sales	525.4		(138.1)	387.3
	ETF net creations			133.5	133.5
	Investment fund net sales	525.4		(4.6)^(1)	520.8
	Institutional SMA net sales			530.2^(2)(3)	530.2
	Managed asset net sales	525.4		525.6	1,051.0
	Other net flows	(127.2)			(127.2)
Net flows		398.2		525.6	923.8
Gross flows
	Mutual fund gross sales	1,813.9		958.0	2,771.9
	Dealer gross inflows	1,510.6			1,510.6

Table 2 – Assets under Management and Advisement
($ millions) (unaudited)	February  2025	January  2025	% Change Last Month
Wealth Management
IG Wealth Management
Assets under management	127,546	127,138	0.3 %
Other assets under advisement	17,077	17,250	(1.0 %)
Assets under advisement	144,623	144,388	0.2 %
Asset management
Mackenzie Investments
Mutual funds	62,957	63,327	(0.6 %)
ETFs	7,779	7,645	1.8 %
Investment funds	70,736	70,972	(0.3 %)
Institutional SMA	9,039	8,543	5.8 %
Sub-advisory to Canada Life	53,791	54,163	(0.7 %)
Total Institutional SMA	62,830	62,706	0.2 %
Total third party assets under management	133,566	133,678	(0.1 %)
Sub-advisory and AUM to Wealth Management	86,641	85,842	0.9 %
Total	220,207	219,520	0.3 %
ETF's distributed to third parties	7,779	7,645	1.8 %
ETF's held within IGM managed products	8,953	8,696	3.0 %
Total ETFs	16,732	16,341	2.4 %
Total
Assets under management	261,112	260,816	0.1 %
Other assets under advisement	17,077	17,250	(1.0 %)
Assets under management and advisement	278,189	278,066	(0.0 %)

Table 3 - Average Assets under Management and Advisement
($ millions) (unaudited)	Quarter to date 2025
Wealth Management
IG Wealth Management
Assets under management	125,582
Other assets under advisement	17,132
Assets under advisement	142,714
Asset Management
Mackenzie Investments
Mutual funds	62,354
ETFs	7,525
Investment funds	69,879
Institutional SMA	8,652
Sub-advisory to Canada Life	53,604
Total Institutional SMA	62,256
Total third party assets under management	132,135
Sub-advisory and AUM to Wealth Management	85,282
Total	217,417
ETFs distributed to third parties	7,525
ETFs held within IGM managed products	8,588
Total ETFs	16,113
Total
Assets under management	257,717
Other assets under advisement	17,132
Assets under management and advisement	274,849

^1	Investment fund net sales exclude $216 million in ETF net creations to IGM managed products and $68 million in investment fund net sales through the IGWM segment.
^2	Excludes sub-advisory to Canada Life and the Wealth Management segment.
^3	During February 2025, Mackenzie onboarded institutional mandates of $492 million.

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 represents 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 $278 billion in total assets under management and advisement as of February 28, 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.

For more information contact: Media Relations: Nini Krishnappa, 647-828-2553, [email protected]; Investor Relations: Kyle Martens, 204-777-4888, [email protected]