Firm sees significant month-on-month increase in net flows and assets under management
IGM Financial has posted record high investment fund net flows and assets under management last month.
The firm reported preliminary total consolidated net flows of $777 million for the month of August 2021. Meanwhile, the firm’s total assets under management and advisement were $271.2 billion last month, compared to $265.2 billion in July and $196.9 billion during the same month last year.
Broken down, the firm’s IG Wealth division posted record high assets under advisement of $116.3 billion, up 2.5% in the month and up 12.6% year to date. Additionally, IG Wealth reported record high net inflows of $375 million – up from net outflows of $12 million in August 2020.
Meanwhile, Mackenzie Investments posted record high assets under management of $208.0 billion, up 2.0% in the month and up 12.3% year to date. It also reported a record high total net flows of $300 million, up from $219 million in August 2020, as well as a record high investment fund net sales of $378 million from net sales of $374 million in 2020.
IGM Financial is one of Canada's leading diversified wealth and asset management companies, offering a range of financial planning and investment management services.