WINNIPEG, MANITOBA--(MARKET WIRE)--Oct 2, 2008 -- IGM Financial Inc. (IGM) (Toronto:IGM.TO - News) today reported preliminary total assets under management of $118.5 billion and mutual fund assets under management of $98.0 billion as at September 30, 2008. Total mutual fund net new money in September was ($128.2) million.

 

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Assets under Management                 September   September   % Change
(billions) (unaudited)                       2008        2007        YOY
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Mutual Funds
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 Investors Group                           $54.31      $61.21      (11.3)
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 Mackenzie                               $41.75(1)     $47.40      (11.9)
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 Counsel Group of Funds                   $1.93(2)    $2.29(2)     (15.7)
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Mutual Fund Assets under Management        $97.99     $110.90      (11.6)
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Private, institutional, sub-advised
 and other - Mackenzie                $20.52(1)(3)   $13.33(3)      53.9
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Total Assets under Management             $118.51     $124.23       (4.6)
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Mutual Funds Net New
 Money(i)
September 2008          Investors               Counsel Group         IGM
(millions) (unaudited)      Group  Mackenzie(1)      of Funds   Financial
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All Mutual Funds
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 Gross Sales               $433.2       $950.1          $18.2    $1,401.5
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 Net New Money(i)           $16.5      ($137.2)      ($7.5)(4) ($128.2)(4)
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Long Term Mutual Funds
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 Gross Sales               $326.1       $853.0          $14.2    $1,193.3
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 Net New Money(i)           ($6.7)       $42.7       ($9.9)(4)    $26.1(4)
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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) Saxon Financial Inc. (Saxon) was acquired at the close of business on September 25, 2008. As a result, Saxon's assets under management as of September 30, 2008 as well as Saxon's sales and redemptions from September 26, 2008 are included in Mackenzie Investments' results for September 2008. At September 30, 2008, Saxon's mutual fund assets were $1.71 billion and Saxon's institutional and sub-advised assets were $10.36 billion.

(2) includes $450 million (September 2007 - $549 million) in Counsel Group of Funds mutual fund assets invested in other managers' mutual funds.

(3) excludes assets managed by Mackenzie on behalf of Investors Group.

(4) includes $ 9.7 million in net new money of Counsel Group of Funds mutual funds invested in other managers' mutual funds.

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 over $118 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
     Email: ron.arnst@investorsgroup.com