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Globe and Mail
04-06-2025
- Business
- Globe and Mail
IGM FINANCIAL INC. ANNOUNCES MAY 2025 ASSETS UNDER MANAGEMENT & ADVISEMENT AND NET FLOWS
WINNIPEG, MB , June 4, 2025 /CNW/ - IGM Financial Inc. (IGM) (TSX: IGM) today reported record high total assets under management and advisement of $278.8 billion at , up 11.0% from $251.1 billion at May 31, 2024 . Total consolidated net inflows were $190 million during May 2025 . MAY HIGHLIGHTS IGM Financial – Record high assets under management & advisement were $278.8 billion up from $269.5 billion in the prior month. Investment fund net sales were $356 million up from net redemptions of $378 million in May 2024 . Total net inflows were $190 million up from net outflows of $302 million in May 2024 . IG Wealth Management (IGWM) – Assets under advisement were $143.7 billion up from $139.1 billion in the prior month. Record high Investment fund net sales were $250 million up from net redemptions of $127 million in May 2024 . Total net inflows were $65 million up from net outflows of $2 million in May 2024 . Mackenzie Investments – Record high assets under management were $221.0 billion up from $213.7 billion in the prior month. Investment fund net sales were $106 million up from net redemptions of $251 million in May 2024 . Total net sales of $125 million up from net redemptions of $300 million in May 2024 . Table 2 – Assets under Management and Advisement ($ millions) (unaudited) May 2025 April 2025 % Change Last Month Wealth Management IG Wealth Management Assets under management 126,845 122,505 3.5 % Other assets under advisement 16,834 16,546 1.7 % Assets under advisement 143,679 139,051 3.3 % Asset management Mackenzie Investments Mutual funds 61,459 59,351 3.6 % ETFs 8,305 7,896 5.2 % Investment funds 69,764 67,247 3.7 % Institutional SMA 11,630 11,155 4.3 % Sub-advisory to Canada Life 53,741 52,039 3.3 % Total Institutional SMA 65,371 63,194 3.4 % Total third party assets under management 135,135 130,441 3.6 % Sub-advisory and AUM to Wealth Management 85,820 83,305 3.0 % Total 220,955 213,746 3.4 % ETF's distributed to third parties 8,305 7,896 5.2 % ETF's held within IGM managed products 9,761 9,092 7.4 % Total ETFs 18,066 16,988 6.4 % Total Assets under management 261,980 252,946 3.6 % Other assets under advisement 16,834 16,546 1.7 % Assets under management and advisement 278,814 269,492 3.5 % Table 3 - Average Assets under Management and Advisement ($ millions) (unaudited) Quarter to date 2025 Wealth Management IG Wealth Management Assets under management 122,859 Other assets under advisement 16,551 Assets under advisement 139,410 Asset Management Mackenzie Investments Mutual funds 59,556 ETFs 7,914 Investment funds 67,470 Institutional SMA 11,524 Sub-advisory to Canada Life 52,068 Total Institutional SMA 63,592 Total third party assets under management 131,062 Sub-advisory and AUM to Wealth Management 84,543 Total 215,605 ETFs distributed to third parties 7,914 ETFs held within IGM managed products 9,221 Total ETFs 17,135 Total Assets under management 253,921 Other assets under advisement 16,551 Assets under management and advisement 270,472 1 Excludes sub-advisory to Canada Life and the Wealth Management segment. Glossary of Terms Assets Under Management and Advisement (AUM&A) represents the consolidated AUM and AUA of IGM Financial's core businesses IG Wealth Management and Mackenzie Investments. In the Wealth Management segment, AUM is a component part of AUA. All instances where the asset management segment is providing investment management services or distributing its products through the Wealth Management segment are eliminated in our reporting such that there is no double-counting of the same client savings held at IGM Financial's core businesses. AUM&A excludes Investment Planning Counsel's (IPC's) AUM, AUA, sales, redemptions and net flows which have been disclosed as Discontinued operations. Assets Under Advisement (AUA) are the key driver of the Wealth Management segment. AUA are savings and investment products held within client accounts of our Wealth Management segment core businesses. Assets Under Management (AUM) are the key driver of the Asset Management segment. AUM are a secondary driver of revenues and expenses within the Wealth Management segment in relation to its investment management activities. AUM are client assets where we provide investment management services and include investment funds where we are the fund manager, investment advisory mandates to institutions, and other client accounts where we have discretionary portfolio management responsibilities. Mutual fund gross sales and net sales reflect the results of the mutual funds managed by the respective operating companies, and in the case of the Wealth Management segment also include other discretionary portfolio management services provided by the operating companies, including separately managed account programs. ETF's represent exchange traded funds managed by Mackenzie. Institutional SMA represents investment advisory and sub-advisory mandates to institutional investors, pension plans and foundations through separately managed accounts. Other net flows and Other assets under advisement represents financial savings products held within client accounts in the Wealth Management segment that are not invested in products or programs where these operating companies perform investment management activities. These savings products include investment funds managed by third parties, direct investment in equity and fixed income securities and deposit products. Net flows represent the total net contributions, in cash or in kind, to client accounts at the Wealth Management segment and the overall net sales to the Asset Management segment. Wealth Management – Reflects the activities of operating companies primarily focused on providing financial planning and related services to Canadian households and represents the operations of IGWM. IGWM is a retail distribution organization that serves Canadian households through their securities dealers, mutual fund dealers and other subsidiaries licensed to distribute financial products and services. The majority of the revenues of this segment are derived from providing financial advice and distributing financial products and services to Canadian households. This segment also includes the investment management activities of these organizations, including mutual fund management and discretionary portfolio management services. Asset Management – Reflects the activities of operating companies primarily focused on providing investment management services, and represents the operations of Mackenzie Investments. Investment management services are provided to a suite of investment funds that are distributed through third party dealers and financial advisors, and also through institutional advisory mandates to pension and other institutional investors. Discontinued operations - Reflects the activities of Investment Planning Counsel. On April 3, 2023 , IGM Financial announced the sale of 100% of the common shares of Investment Planning Counsel Inc. for cash consideration of $575 million . The transaction closed on November 30, 2023 . ABOUT IGM FINANCIAL INC. IGM Financial Inc. ("IGM", TSX: IGM) is a leading Canadian diversified wealth and asset management organization with approximately $279 billion in total assets under management and advisement as of May 31, 2025 . The company is committed to bettering the lives of Canadians by better planning and managing their money. To achieve this, IGM provides a broad range of financial planning and investment management services to help approximately two million Canadians meet their financial goals. IGM's activities are carried out principally through IG Wealth Management and Mackenzie Investments and are complimented by strategic positions in wealth managers Rockefeller Capital Management and Wealthsimple and asset managers ChinaAMC and Northleaf Capital. These strengthen IGM's capabilities, reach and diversification. IGM is a member of the Power Corporation group of companies. For more information, visit
Yahoo
13-05-2025
- Business
- Yahoo
IGM Financial (TSE:IGM) Has Announced A Dividend Of CA$0.5625
IGM Financial Inc. (TSE:IGM) has announced that it will pay a dividend of CA$0.5625 per share on the 31st of July. This makes the dividend yield 5.1%, which will augment investor returns quite nicely. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. While it is great to have a strong dividend yield, we should also consider whether the payment is sustainable. Prior to this announcement, IGM Financial's dividend was comfortably covered by both cash flow and earnings. This means that a large portion of its earnings are being retained to grow the business. Looking forward, earnings per share is forecast to fall by 1.9% over the next year. Assuming the dividend continues along recent trends, we believe the payout ratio could be 58%, which we are pretty comfortable with and we think is feasible on an earnings basis. View our latest analysis for IGM Financial The company has been paying a dividend for a long time, and it has been quite stable which gives us confidence in the future dividend potential. The annual payment during the last 10 years was CA$2.15 in 2015, and the most recent fiscal year payment was CA$2.25. Its dividends have grown at less than 1% per annum over this time frame. Slow and steady dividend growth might not sound that exciting, but dividends have been stable for ten years, which we think makes this a fairly attractive offer. Some investors will be chomping at the bit to buy some of the company's stock based on its dividend history. It's encouraging to see that IGM Financial has been growing its earnings per share at 5.2% a year over the past five years. Shareholders are getting plenty of the earnings returned to them, which combined with strong growth makes this quite appealing. In summary, it is good to see that the dividend is staying consistent, and we don't think there is any reason to suspect this might change over the medium term. The company is generating plenty of cash, and the earnings also quite easily cover the distributions. However, it is worth noting that the earnings are expected to fall over the next year, which may not change the long term outlook, but could affect the dividend payment in the next 12 months. Taking this all into consideration, this looks like it could be a good dividend opportunity. It's important to note that companies having a consistent dividend policy will generate greater investor confidence than those having an erratic one. At the same time, there are other factors our readers should be conscious of before pouring capital into a stock. Companies that are growing earnings tend to be the best dividend stocks over the long term. See what the 5 analysts we track are forecasting for IGM Financial for free with public analyst estimates for the company. Is IGM Financial not quite the opportunity you were looking for? Why not check out our selection of top dividend stocks. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Globe and Mail
11-05-2025
- Business
- Globe and Mail
Nervous clients of IGM Financial Inc. steer clear of panic selling, CEO says
Nervous clients of IGM Financial Inc. IGM-T have taken a pause on adding to their portfolios but are steering clear of panic-selling, the investment giant's chief executive officer says. Investors poured $4.2-billion into IGM Financial's funds for the first three months of 2025, according to figures reported Thursday, compared with just $128-million for the same period last year. But sales started to slow down in the spring, as market uncertainty began to weigh on investor confidence, CEO James O'Sullivan told analysts during an earnings call on Friday morning. Second-quarter figures are expected to be released in the summer. 'While much of the first quarter was characterized by considerable uncertainty, the financial markets – for the most part – proved resilient until early April when we saw a spike in volatility," he said. However, net redemptions – the amount of money investors pull out of funds – has remained stable, he added, but the industry has seen sales softened slightly. Mr. O'Sullivan, later speaking to shareholders at IGM Financial's Friday annual general meeting, addressed the current economic climate that has started to rattle clients. 'In the last few months, we have been compelled to re-examine our relationship with the U.S. as a result of the launch of a tariff war and the questioning of our national sovereignty,' he said. 'We have also seen the beginnings of a restructuring of global alliances that have been in place for 80 years. All this, naturally, has created a degree of stress in our economy and resulting market volatility.' However, that uncertainty has led investors to seek out more financial advice, as they hold steady in their investment decisions: 'It is a positive time for investment advisers.' IGM Financial reported adjusted net earnings of $237-million, or $1.00 a share, for the first quarter of 2025, compared with $224-million, or 94 cents a share, in 2024. Sun Life Financial CEO says U.S. tariff impacts on market appear manageable so far - The Globe and Mail Sun Life Financial CEO says U.S. tariff impacts on market appear manageable so far – The Globe and Mail The investment giant, a subsidiary of Power Corp. of Canada POW-T, has seen its assets under administration – including its strategic investments – reach an all-time high of $503.6-billion, up from $483-billion, at the end of 2024. In recent years, the company has completed a flurry of acquisitions. Today, IGM Financial owns a 20.5-per-cent stake in U.S wealth giant Rockefeller Capital Management and a 56-per-cent stake in private equity firm Northleaf Capital Partners. In 2022, IGM Financial doubled its stake in China Asset Management Co. to 27.8 per cent from 13.9 per cent, and it continues to hold nearly 25 per cent in digital manager, Wealthsimple Inc. Mr. O' Sullivan said there are times where Canadians want less financial advice, where 'they want do it themselves a little more.' But during other market events, Canadians seek direction. 'Markets today are where Canadians want to speak to someone directly to get advice.' That is good news for a financial services giant with multiple layers of advice businesses. Digitally savvy investors are turning to Wealthsimple, which now serves more than two million clients. Its assets skyrocket to $73-billion, as of March 31, up from $31-billion at the end of 2023. 'Wealthsimple is the most successful customer acquisition engine that has ever been built in this country,' Mr. O'Suillivan said in an interview. 'It's a company the banks in particular are going to find hard to compete with.' But most of IGM Financial's revenue comes from IG Wealth (formerly known as Investors Group), which has more than 3,200 financial advisers and associates. IG Wealth reported client sales of $718-million, compared with $46-million in the first quarter of 2024. Unlike other periods of market uncertainty where several asset classes and sectors of the stock markets would decline simultaneously, Mr. O'Sullivan says today's environment is well tuned for active manager who can diversify. 'We're finally in a market where diversification is really working for client portfolios – by geography and by currency – and it's actually worked out really well so far. Clients are nervous, but they're not panicking.'
Yahoo
27-03-2025
- Business
- Yahoo
IGM Financial Inc. (TSE:IGM) Pays A CA$0.5625 Dividend In Just Three Days
Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be intrigued to know that IGM Financial Inc. (TSE:IGM) is about to go ex-dividend in just three days. The ex-dividend date is commonly two business days before the record date, which is the cut-off date for shareholders to be present on the company's books to be eligible for a dividend payment. The ex-dividend date is of consequence because whenever a stock is bought or sold, the trade can take two business days or more to settle. Accordingly, IGM Financial investors that purchase the stock on or after the 31st of March will not receive the dividend, which will be paid on the 30th of April. The company's next dividend payment will be CA$0.5625 per share. Last year, in total, the company distributed CA$2.25 to shareholders. Based on the last year's worth of payments, IGM Financial has a trailing yield of 5.0% on the current stock price of CA$45.00. If you buy this business for its dividend, you should have an idea of whether IGM Financial's dividend is reliable and sustainable. As a result, readers should always check whether IGM Financial has been able to grow its dividends, or if the dividend might be cut. Dividends are usually paid out of company profits, so if a company pays out more than it earned then its dividend is usually at greater risk of being cut. IGM Financial paid out 57% of its earnings to investors last year, a normal payout level for most businesses. Generally speaking, the lower a company's payout ratios, the more resilient its dividend usually is. See our latest analysis for IGM Financial Click here to see the company's payout ratio, plus analyst estimates of its future dividends. Businesses with strong growth prospects usually make the best dividend payers, because it's easier to grow dividends when earnings per share are improving. If business enters a downturn and the dividend is cut, the company could see its value fall precipitously. This is why it's a relief to see IGM Financial earnings per share are up 4.7% per annum over the last five years. Many investors will assess a company's dividend performance by evaluating how much the dividend payments have changed over time. IGM Financial's dividend payments are broadly unchanged compared to where they were 10 years ago. From a dividend perspective, should investors buy or avoid IGM Financial? IGM Financial has been generating some growth in earnings per share while paying out more than half of its earnings to shareholders in the form of dividends. In sum this is a middling combination, and we find it hard to get excited about the company from a dividend perspective. Wondering what the future holds for IGM Financial? See what the five analysts we track are forecasting, with this visualisation of its historical and future estimated earnings and cash flow A common investing mistake is buying the first interesting stock you see. Here you can find a full list of high-yield dividend stocks. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
