WINNIPEG, MANITOBA, Nov 03, 2009 (MARKETWIRE via COMTEX) ----IGM Financial Inc. (IGM) (TSX: IGM) today reported preliminary total mutual fund net new money in October of ($151.9) million as shown in Table 1. Total assets under management were $116.0 billion at October 31, 2009, up from $101.7 billion at December 31, 2008 and compared to $107.0 billion at October 31, 2008. Mutual fund assets under management were $96.6 billion as at October 31, 2009, up from $85.0 billion at December 31, 2008 and compared to $89.1 billion at October 31, 2008. Assets under management are shown in Table 2.

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   Table 1 - Mutual Funds Net New
   Money (i)                                       October 2009
   (millions) (unaudited)           -------------------------------------------
   Counsel
   Investors            Portfolio        IGM
   Group  Mackenzie  Services  Financial
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   All Mutual Funds
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   Gross Sales                     $433.9     $437.3     $37.8     $909.0
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   Net New Money (i)                $29.4    ($197.5)    $16.2(1) ($151.9)(1)
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   Long Term Mutual Funds
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   Gross Sales                     $370.4     $357.4     $33.8     $761.6
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   Net New Money (i)                $28.5    ($181.6)    $14.2(1) ($138.9)(1)
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(i) Mutual Fund Net New Money is defined as Gross Sales less Gross Redemptions and is consistent with the terminology used by The Investment Funds Institute of Canada (IFIC).

(1) includes $13.6 million in net new money of Counsel Portfolio Services mutual funds invested in other managers' funds.

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   Table 2 - Assets under Management      October 31, October 31,  % Change
   (billions) (unaudited)                       2009        2008        YOY
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   Mutual Funds
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   Investors Group                          $55.27      $50.26       10.0
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   Mackenzie                                $39.27      $37.10        5.8
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   Counsel Portfolio Services                $2.01(2)    $1.78(2)    12.9
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   Mutual Fund Assets under Management        $96.55      $89.14        8.3
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   Private, institutional, sub-advised and
   other - Mackenzie                          $19.44(3)   $17.88(3)     8.7
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   Total Assets under Management             $115.99     $107.02        8.4
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(2) includes $254 million (2008 - $422 million) of Counsel mutual fund assets invested in other managers' funds.

Preliminary average mutual fund assets under management and average total assets under management for the quarter to date are set out in Table 3.

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   Table 3 - Average Assets under Management(4)      Quarter to
   (billions) (unaudited)                                  Date
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   Mutual Funds
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   Investors Group                                     $56.22
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   Mackenzie                                           $39.75
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   Counsel Portfolio Services                           $2.03
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   Average Mutual Funds Assets under Management          $98.00
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   Private, institutional, sub-advised and other -
   Mackenzie                                             $19.45(3)
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   Total Average Assets under Management                $117.45
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(3) excludes assets managed by Mackenzie and Investment Planning Counsel on behalf of Investors Group.

(4) based on daily average mutual fund assets and month-end average private, institutional, sub-advisory and other assets.

For more information on mutual fund activity, please refer to press releases issued by Investors Group Inc., Mackenzie Investments and Investment Planning Counsel Inc.

Additional information about mutual fund assets and fund flows will be available on the Investment Funds Institute of Canada (IFIC) web site (www.ific.ca) on approximately the 15th of each month as part of a Canadian industry-wide release of monthly statistics.

IGM Financial Inc. is one of Canada's premier personal financial services companies, and one of the country's largest managers and distributors of mutual funds and other managed asset products, with $116 billion in total assets under management. Its activities are carried out principally through Investors Group, Mackenzie Financial Corporation and Investment Planning Counsel. IGM Financial Inc. is a member of the Power Financial Corporation group of companies.

   Contacts:
   IGM Financial Inc.
   Ron Arnst
   Media Relations
   (204) 956-3364
   ron.arnst@investorsgroup.com
   
   
   

SOURCE: IGM Financial Inc.

mailto:ron.arnst@investorsgroup.com
   

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