Mackenzie Investments reports total assets under management and fund sales for December



    TORONTO, Jan. 5 /CNW/ - Mackenzie Financial Corporation (Mackenzie
Investments), part of IGM Financial Inc. (TSX:IGM), today announced
preliminary total assets under management of $54.7 billion at December 31,
2008, as compared to $63.3 billion at December 31, 2007. Mackenzie Investments
also reported preliminary gross mutual fund sales and mutual fund net new
money for December 2008 of $510.0 million and $(213.8) million, respectively.

    
    Further information can be found below in the tables of unaudited
month-end data:

    -------------------------------------------------------------------------
    Total Assets Under Management       2008            2007
    (AUM) ($millions)               December        December        % Change
    -------------------------------------------------------------------------
    Mutual Funds:
    -------------------------------------------------------------------------
      Long-term mutual funds         $32,485         $44,640         (27.2)%
    -------------------------------------------------------------------------
      Money market mutual funds        3,310           1,832           80.7%
    -------------------------------------------------------------------------
    Total Mutual Funds AUM            35,795          46,472         (23.0)%
    -------------------------------------------------------------------------
    Institutional, sub-advised
     and other                        18,866          16,806           12.3%
    -------------------------------------------------------------------------
    Total Assets Under Management    $54,661         $63,278         (13.6)%
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    Sales                                             2008
    ($millions)                                     December
    -------------------------------------------------------------------------
    Mutual Funds:                      Sales     Redemptions        Net New
                                                                   Money (*)
    -------------------------------------------------------------------------
      Long-term mutual funds(xx)      $371.1          $565.7        $(194.6)
    -------------------------------------------------------------------------
      Money market mutual funds        138.9           158.1          (19.2)
    -------------------------------------------------------------------------
    Total Mutual Fund Sales            510.0           723.8         (213.8)
    -------------------------------------------------------------------------
    Other retail managed products        0.0             2.8           (2.8)
    -------------------------------------------------------------------------
    Total Fund Sales                  $510.0          $726.6        $(216.6)
    -------------------------------------------------------------------------

    (*)  Net New Money is defined as Sales less Redemptions and is consistent
         with the terminology used by IFIC.
    (xx) Sales and Redemptions of long-term mutual funds for the month were
         higher as a result of rebalance transactions by one institutional
         investor. The impact of the rebalance transactions was a net
         redemption of $17 million, which is reflected in the net new money
         total for the month.
    

    Additional information about Mackenzie Investments' assets and fund flows
will be available on the Investment Funds Institute of Canada's website
(www.ific.ca) on approximately the 15th of each month as part of a Canadian
industry-wide release of monthly statistics.

    Mackenzie Investments: Mackenzie Investments was founded in 1967, and is
a leading investment management firm providing investment advisory and related
services. With $54.7 billion in assets under management, Mackenzie Investments
distributes its services through a diversified network of third-party
financial advisors. Mackenzie Investments is a member of the IGM Financial
Inc. (TSX: IGM) group of companies. IGM Financial is one of Canada's premier
financial services companies with over $101 billion in total assets under
management.





For further information:

For further information: Catharine Marion, Environics Communications
Inc., (416) 969-2809, cmarion@environicspr.com


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