Mr. Nini Krishnappa reports

IGM FINANCIAL INC. ANNOUNCES NOVEMBER 2023 ASSETS UNDER MANAGEMENT & ADVISEMENT AND NET FLOWS

IGM Financial Inc. had preliminary total consolidated net outflows of $290-million during November, 2023, as shown in the first attached table. Total assets under management and advisement were $234.9-billion at Nov. 30, 2023, compared with $250.3-billion at Oct. 31, 2023, and $256.7-billion at Nov. 30, 2022. Due to the closing of the sale of 100 per cent of Investment Planning Counsel, total assets under management and advisement were reduced by $27.3-billion at Nov. 30, 2023. Total assets under management and advisement excluding Investment Planning Counsel increased by 4.7 per cent or $10.5-billion at Nov. 30, 2023. Assets under management and advisement are shown in the second attached table.

November highlights

IGM Financial -- Assets under management and advisement of $234.9-billion were down 6.1 per cent in the month. Total net outflows were $290-million compared with net outflows of $294-million in November, 2022. Investment fund net redemptions were $635-million compared with net redemptions of $623-million in November, 2022.

IG Wealth Management -- Assets under advisement of $118.5-billion were up 4.5 per cent in the month. Total net outflows were $83-million compared with net inflows of $123-million in November, 2022.

Mackenzie -- Assets under management of $191.6-billion were up 4.5 per cent in the month. Total net redemptions were $312-million compared with net redemptions of $391-million in November, 2022. Investment fund net redemptions were $220-million compared with net redemptions of $332-million in November, 2022.

Discontinued operations -- On April 3, 2023, IGM Financial announced the sale of 100 per cent of the common shares of Investment Planning Counsel Inc. for cash consideration of $575-million. The transaction closed Nov. 30, 2023.

About IGM Financial Inc.

IGM Financial is one of Canada's leading diversified wealth and asset management companies with approximately $235-billion in total assets under management and advisement. The company provides a broad range of financial planning and investment management services to help more than two million Canadians meet their financial goals. Its activities are carried out principally through IG Wealth Management, Mackenzie Investments and Investment Planning Counsel. IGM Financial is a member of the Power Corp. group of companies.