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

TORONTO, Aug. 3 /CNW/ - Mackenzie Financial Corporation (Mackenzie Investments), part of IGM Financial Inc. (TSX: IGM), today announced preliminary total assets under management and fund sales for the month ending July 31, 2010. Assets under management were $62.4 billion at July 31, 2010, as compared to $58.8 billion at July 31, 2009.

    
    -------------------------------------------------------------------------
    Total Assets Under Management             2010         2009
    (AUM) ($millions)                         July         July     % Change
    -------------------------------------------------------------------------
    Mutual Funds:
    -------------------------------------------------------------------------
      Long-term mutual funds               $38,724      $36,093         7.3%
    -------------------------------------------------------------------------
      Money market mutual funds              1,171        1,787      (34.5)%
    -------------------------------------------------------------------------
    Total Mutual Funds AUM                  39,895       37,880         5.3%
    -------------------------------------------------------------------------
    Institutional, sub-advised and other    22,501       20,930         7.5%
    -------------------------------------------------------------------------
    Total Assets Under Management          $62,396      $58,810         6.1%
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    Sales                                              2010 July
    ($millions)
    -------------------------------------------------------------------------
                                                                     Net New
    Mutual Funds:                            Sales  Redemptions      Money(1)
    -------------------------------------------------------------------------
      Long-term mutual funds(2)             $311.7       $429.5      $(117.8)
    -------------------------------------------------------------------------
      Money market mutual funds               28.4         49.3        (20.9)
    -------------------------------------------------------------------------
    Total Mutual Fund Sales                  340.1        478.8       (138.7)
    -------------------------------------------------------------------------
    Other retail managed products              0.0          0.0          0.0
    -------------------------------------------------------------------------
    Total Fund Sales                        $340.1       $478.8      $(138.7)
    -------------------------------------------------------------------------
    (1) Net New Money is defined as Sales less Redemptions and is consistent
        with the terminology used by IFIC.
    (2) Redemptions of long-term mutual funds for the month were higher as a
        result of rebalance transactions by an institutional investor. The
        impact of the rebalance transactions resulted in net redemptions of
        $11.0 million, which is reflected in the net new money total for the
        month.
    

For additional information about Mackenzie Investments' average assets under management, please see the IGM Financial press release, which will be available on August 4, 2010. 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 $62.4 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 $119 billion in total assets under management.

SOURCE Mackenzie Financial Corporation

For further information: For further information: Trish Tervit, Environics Communications Inc., 416-969-2809, ttervit@environicspr.com


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890