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



    TORONTO, Oct. 1 /CNW/ - Mackenzie Financial Corporation (Mackenzie
Investments), part of IGM Financial Inc. (TSX:IGM), today announced
preliminary total assets under management of $64.7 billion at September 30,
2008, as compared to $63.5 billion at September 30, 2007. Mackenzie
Investments also reported preliminary gross mutual fund sales and mutual fund
net new money for September 2008 of $950.1 million and $(137.2) million,
respectively.

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

    
    -------------------------------------------------------------------------
    Total Assets Under Management          2008          2007
     (AUM) ($millions)                 September(*)   September    % Change
    -------------------------------------------------------------------------
    Mutual Funds:
    -------------------------------------------------------------------------
      Long-term mutual funds               $39,653      $45,614      (13.1)%
    -------------------------------------------------------------------------
      Money market mutual funds              2,094        1,782        17.5%
    -------------------------------------------------------------------------
    Total Mutual Funds AUM                  41,747       47,396      (11.9)%
    -------------------------------------------------------------------------
    Institutional, sub-advised and
     other                                  23,001       16,100        42.9%
    -------------------------------------------------------------------------
    Total Assets Under Management          $64,748      $63,496         2.0%
    -------------------------------------------------------------------------

    (*) Saxon Financial Inc. (Saxon) was acquired at the close of business
        on September 25, 2008. As a result, Saxon's assets under management
        as of September 30, 2008 as well as Saxon's sales and redemptions
        from September 26, 2008 are included in Mackenzie Investments'
        results for September 2008. At September 30, 2008, Saxon's long-term
        mutual fund and money market mutual fund assets were $1,677 million
        and $36 million respectively, while Saxon's institutional and
        sub-advised assets were $10,356 million.


    -------------------------------------------------------------------------
    Sales                                                2008
    ($millions)                                       September
    -------------------------------------------------------------------------
                                                                   Net New
    Mutual Funds:                         Sales     Redemptions    Money (*)
    -------------------------------------------------------------------------
      Long-term mutual funds (xx)          $853.0       $810.3        $42.7
    -------------------------------------------------------------------------
      Money market mutual funds              97.1        277.0       (179.9)
    -------------------------------------------------------------------------
    Total Mutual Fund Sales                $950.1     $1,087.3      $(137.2)
    -------------------------------------------------------------------------
    Other retail managed products             0.0          2.4         (2.4)
    -------------------------------------------------------------------------
    Total Fund Sales                       $950.1     $1,089.7      $(139.6)
    -------------------------------------------------------------------------

    (*)  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 three institutional
         investors. The net impact was approximately $257 million in net new
         money 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 $64.7 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 $118 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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