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

TORONTO, Jan. 4 /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 December 31, 2010. Assets under management were $68.7 billion at December 31, 2010, as compared to $63.6 billion at December 31, 2009.

             
Total Assets Under Management
(AUM) ($millions)
  2010
December 
  2009
December
  % Change
Mutual Funds:            
  Long-term mutual funds           $42,420       $39,102   8.5%
  Money market mutual funds   1,032     1,520           (32.1)%
Total Mutual Funds AUM            43,452         40,622   7.0%
Institutional, sub-advised and other            25,276         22,957   10.1%
Total Assets Under Management          $68,728       $63,579   8.1%

           
Sales
($millions)
  2010 December
Mutual Funds:   Sales Redemptions   Net New Money (1)
  Long-term mutual funds (2)   $491.3 $623.6   $(132.3)
  Money market mutual funds      58.1     66.2        (8.1)
Total Mutual Fund Sales   549.4 689.8   (140.4)
Other retail managed products       0.0      0.0   0.0
Total Fund Sales   $549.4 $689.8   $(140.4)

(1) Net New Money is defined as Sales less Redemptions and is consistent with the terminology used by IFIC.

(2)  Sales and Redemptions of long-term mutual funds for the month were higher as a result of rebalance transactions by two institutional investors. The impact of the rebalance transactions resulted in net redemptions of $10.4 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 January 5, 2011. 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 $68.7 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 $130 billion in total assets under management.

SOURCE Mackenzie Financial Corporation

For further information:

Trish Tervit
Environics Communications Inc.
416-969-2809
ttervit@environicspr.com


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