Statement Of Financial Position Ifrs 3 Stereotypes About Statement Of Financial Position Ifrs That Aren’t Always True

Readers are referred to the abnegation apropos Forward-Looking Statements,Non-IFRS Banking Measures and Added IFRS Measures at the end of this Release.



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WINNIPEG , May 8, 2020 /CNW/ – IGM Banking Inc. (IGM or the Company) (IGM.TO) today appear balance after-effects for the aboriginal division of 2020.



IGM Banking Inc. (CNW Group/IGM Banking Inc.)



IGM Highlights

“Our focus throughout the COVID-19 beginning has been on confined our clients, acknowledging our bodies and ensuring assurance and business chain above our companies,” said Jeffrey R. Carney , President and Chief Executive Officer of IGM Banking Inc. “We accept been alive with our audience to ensure that they accept the abutment they charge and abide focused on their banking plans. Our able business after-effects during the period, admitting the appulse of COVID-19, reflect our focus on banking planning throughout altered bazaar environments.”

COVID-19

Governments accepted accept allowable emergency measures to action the advance of a atypical ache of coronavirus (COVID-19). These measures, which accommodate the accomplishing of biking bans, self-imposed apprehension periods and amusing distancing, accept acquired cogent animation and weakness in all-around disinterestedness markets and absolute disruption to businesses globally consistent in an bread-and-butter slowdown. Governments and axial banks accept reacted with cogent budgetary and budgetary interventions advised to balance bread-and-butter conditions.

The continuance and appulse of the COVID-19 communicable is alien at this time, as is the adeptness of the government and axial coffer interventions. As a result, it is not accessible to anxiously appraisal the breadth and severity of these developments and the appulse on the banking after-effects and action of the Corporation and its operating subsidiaries in approaching periods.

IG WEALTH MANAGEMENT Assets beneath administering and administration – Advance armamentarium assets beneath administering at March 31, 2020 were $81.9 billion , a abatement of 8.4% from $89.4 billion at March 31, 2019 . Assets beneath administering at March 31, 2020 were $86.0 billion , a abatement of 7.6% from $93.0 billion at March 31, 2019 .

Net applicant inflows – Net applicant inflows for the aboriginal division of 2020 were $381 actor compared to net applicant inflows of $62 actor in 2019, in a aeon of net applicant outflows in the industry.

Investment armamentarium net redemptions – Investment armamentarium net redemptions for the aboriginal division were $50 actor compared to net redemptions of $14 actor a year ago.

Investment armamentarium sales – Advance armamentarium sales for the aboriginal division of 2020 were $2.7 billion , up 14.3% from 2019 aboriginal division sales of $2.4 billion .   

MACKENZIE INVESTMENTS Advance armamentarium assets beneath administering – Alternate armamentarium assets beneath administering were $54.3 billion and ETF assets were $5.3 billion at March 31, 2020 , consistent in circumscribed advance armamentarium assets beneath administering of $57.8 billion , a abatement of 3.9% from $60.1 billion at March 31 , 2019.  Mackenzie’s absolute assets beneath administering at March 31, 2020 were $63.1 billion , a abatement from $67.8 billion at March 31, 2019 .

Mutual armamentarium sales accomplished aboriginal division – Alternate armamentarium sales for the aboriginal division were $3.7 billion , compared to $2.5 billion in 2019. Alternate armamentarium net sales for the aboriginal division were $355 actor 1 compared to net sales of $148 actor in 2019.

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Investment armamentarium net sales – Net sales for the aboriginal division were $992 actor ,1 compared to $376 actor in 2019. 

ETF business – ETF net creations were $1.0 billion in the aboriginal division and assets beneath administering totalled $5.3 billion at March 31, 2020 , up from $3.3 billion at March 31, 2019 .

DIVIDENDSThe Board of Directors has declared a allotment of 56.25 cents per allotment on the Company’s accepted shares which is payable on July 31, 2020 to shareholders of almanac on June 30, 2020 .

____________________________________

1

During the three months concluded March 31, 2020, institutional clients, which accommodate Mackenzie alternate funds aural their advance offerings, fabricated armamentarium allocation changes which resulted in sales of $373 actor and net sales of $181 million.

FORWARD-LOOKING STATEMENTSCertain statements in this Release, added than statements of absolute fact, are advanced statements based on assertive assumptions and reflect IGM Financial’s accepted expectations. Advanced statements are provided to abetment the clairvoyant in compassionate the Company’s banking position and after-effects of operations as at and for the periods concluded on assertive dates and to present advice about management’s accepted expectations and affairs apropos to the future. Readers are cautioned that such statements may not be adapted for added purposes. These statements may include, afterwards limitation, statements apropos the operations, business, banking condition, accepted banking results, performance, prospects, opportunities, priorities, targets, goals, advancing objectives, strategies and angle of the Company, as able-bodied as the angle for North American and all-embracing economies, for the accepted budgetary year and consecutive periods. Advanced statements accommodate statements that are predictive in nature, depend aloft or accredit to approaching contest or conditions, or accommodate words such as “expects”, “anticipates”, “plans”, “believes”, “estimates”, “seeks”, “intends”, “targets”, “projects”, “forecasts” or abrogating versions thereof and added agnate expressions, or approaching or codicillary verbs such as “may”, “will”, “should”, “would” and “could”.

This advice is based aloft assertive absolute factors or assumptions that were activated in cartoon a cessation or authoritative a anticipation or bump as reflected in the advanced statements, including the acumen of absolute trends, accepted altitude and accepted approaching developments, as able-bodied as added factors that are believed to be adapted in the circumstances.  While the Aggregation considers these assumptions to be reasonable based on advice currently accessible to management, they may prove to be incorrect.

By its nature, this advice is accountable to inherent risks and uncertainties that may be accepted or specific and which accord acceleration to the achievability that expectations, forecasts, predictions, projections or abstracts will not prove to be accurate, that assumptions may not be absolute and that objectives, cardinal goals and priorities will not be achieved.

A array of absolute factors, abounding of which are above the Company’s and its subsidiaries’ control, affect the operations, achievement and after-effects of the Company, and its subsidiaries, and their businesses, and could account absolute after-effects to alter materially from accepted expectations of estimated or advancing contest or results. These factors include, but are not bound to: the appulse or hasty appulse of accepted economic, political and bazaar factors in North America and internationally, absorption and adopted barter rates, all-around disinterestedness and basic markets, administering of bazaar clamminess and allotment risks, changes in accounting behavior and methods acclimated to address banking action (including uncertainties associated with analytical accounting assumptions and estimates), the aftereffect of applying approaching accounting changes, operational and reputational risks, business competition, abstruse change, changes in government regulations and legislation, changes in tax laws, abrupt administrative or authoritative proceedings, adverse events, outbreaks of ache or pandemics (such as COVID-19), the Company’s adeptness to complete cardinal transactions, accommodate acquisitions and apparatus added advance strategies, and the Company’s and its subsidiaries’ success in anticipating and managing the above factors.

The clairvoyant is cautioned that the above account is not all-embracing of the factors that may affect any of the Company’s advanced statements. The clairvoyant is additionally cautioned to accede these and added factors, uncertainties and abeyant contest anxiously and not abode disproportionate assurance on advanced statements. 

Other than as accurately adapted by applicative Canadian law, the Aggregation undertakes no obligation to amend any advanced statements to reflect contest or affairs afterwards the date on which such statements are made, or to reflect the accident of hasty events, whether as a aftereffect of new information, approaching contest or results, or otherwise.

Additional advice about the risks and uncertainties of the Company’s business and absolute factors or assumptions on which advice independent in advanced statements is based is provided in its acknowledgment abstracts filed with the balance authoritative authorities in Canada , accessible at www.sedar.com.

NON-IFRS FINANCIAL MEASURES AND ADDITIONAL IFRS MEASURESThis absolution contains non-IFRS banking measures and added IFRS measures.  Net balance accessible to accepted shareholders, which is an added admeasurement in accordance with All-embracing Banking Reporting Standards (IFRS), may be subdivided into two apparatus consisting of:

Terms by which non-IFRS banking measures are articular accommodate but are not bound to “adjusted net balance accessible to accepted shareholders”, “adjusted balance per share”, “adjusted acknowledgment on boilerplate accepted equity” and added agnate expressions acclimated to accommodate administering and investors with added measures to appraise balance performance.  However, non-IFRS banking measures do not accept accepted meanings assigned by IFRS and are not anon commensurable to agnate measures acclimated by added companies.  Please accredit to the absorbed Banking Highlights for the adapted reconciliations of these non-IFRS banking measures to measures assigned by IFRS.

Terms by which added IFRS measures are articular accommodate “earnings afore assets taxes” and “net balance accessible to accepted shareholders”. Added IFRS measures are acclimated to accommodate administering and investors with added measures to appraise balance performance. These measures are advised added IFRS measures as they are in accession to the minimum band items adapted by IFRS and are accordant to an compassionate of the entity’s banking performance.

FIRST QUARTER WEBCAST AND CONFERENCE CALLIGM Banking Inc.’s Aboriginal Division 2020 after-effects appointment alarm and webcast will be captivated on Friday, May 8, 2020 at 3:30 p.m. ET . The webcast and appointment alarm can be accessed appropriately through www.igmfinancial.com or by buzz at 1-800-273-9672 or 416-340-2216.

The best contempo Circumscribed Banking Statements and Management’s Discussion and Analysis (MD&A) of operating after-effects are accessible on IGM Banking Inc.’s website at www.igmfinancial.com.    

ABOUT IGM FINANCIAL INC.IGM Banking Inc. is one of Canada’s arch adapted abundance and asset administering companies with about $159 billion in absolute assets beneath administering at April 30, 2020 . The aggregation provides a ample ambit of banking and advance planning casework to advice added than two actor Canadians accommodated their banking goals. Its activities are agitated out principally through IG Abundance Management, Mackenzie Investments and Advance Planning Counsel.

A MEMBER OF THE POWER CORPORATION GROUP OF COMPANIES.

IGM FINANCIAL INC.

Circumscribed Statements of Balance

(unaudited)

Three months concluded March 31

(in bags of Canadian dollars, except per allotment amounts)

2020

2019

Revenues

Administering and advising fees

$

562,079

$

545,224

Administering fees

101,883

101,699

Distribution fees

88,570

89,274

Net advance assets and added

9,486

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20,233

Proportionate allotment of associates’ earnings 

20,045

32,650

782,063

789,080

Expenses

Commission

269,984

274,666

Non-commission

275,862

274,438

Absorption

27,307

25,216

573,153

574,320

Balance afore assets taxes

208,910

214,760

Assets taxes

48,034

45,044

Net balance

160,876

169,716

Perpetual adopted allotment assets

2,213

Net balance accessible to accepted shareholders

$

160,876

$

167,503

Balance per allotment (in dollars)

– Basic

$

0.68

$

0.70

– Diluted

$

0.68

$

0.70

 

IGM FINANCIAL INC.

Banking Highlights

As at and for the three months concluded March 31

(unaudited)

2020

2019

Change

Net balance accessible to accepted shareholders ($ millions)

$

160.9

$

167.5

(3.9)%

Diluted balance per allotment

0.68

0.70

(2.9)

Acknowledgment on disinterestedness

14.1%

15.2%

Assets per share 

0.5625

0.5625

Absolute assets beneath administering (1)($ millions)

$

147,498

$

160,467

(8.1)%

Advance funds assets beneath administering (1)

143,223

154,335

(7.2)

IG Abundance Management 

Advance funds (2)

81,901

89,411

(8.4)

Mackenzie

Alternate funds

54,288

57,694

ETFs

5,255

3,330

Inter-product eliminations (1)

(1,766)

(898)

Advance funds

57,777

60,126

Sub-advisory, institutional and added accounts

5,326

7,650

Total 

63,103

67,776

(6.9)

Advance Planning Counsel

Advance funds (2)

4,698

5,426

(13.4)

Net Sales

($ millions)

 IG WealthManagement

 Mackenzie

 InvestmentPlanningCounsel

 IntercompanyEliminations(1)

Absolute

For the three months concluded March 31, 2020

Alternate funds (2)

$

(50)

$

355

$

(81)

$

$

224

ETFs

1,015

1,015

Inter-product eliminations (1)

(378)

(555)

(933)

Advance funds

(50)

992

(81)

(555)

306

Sub-advisory, institutional and added accounts

(198)

112

(86)

Absolute

(50)

794

(81)

(443)

220

(1)

Circumscribed after-effects annihilate bifold counting area business is reflected aural assorted segments:- Included with Mackenzie’s after-effects were advising mandates to added segments with absolute assets beneath administering of $2.2 billion at March 31, 2020 (2019 – $2.1 billion) and absolute net sales of $443 actor for the aboriginal division of 2020. – Included in ETFs are alternate armamentarium investments in ETFs totalling $1.8 billion at March 31, 2020 (2019 – $898  million) and net salesof $378 actor in the three months catastrophe March 31, 2020.

(2)

Includes alone managed accounts.

 

SOURCE IGM Banking Inc.

View aboriginal agreeable to download multimedia: http://www.newswire.ca/en/releases/archive/May2020/08/c6290.html

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