Home Breadcrumb caret Industry News Breadcrumb caret Industry IGM reports increased earnings and record-high AUM in Q3 Subsidiaries IG and Mackenzie reported records as well By Staff | November 2, 2018 | Last updated on November 2, 2018 1 min read © Wang Song / 123RF Stock Photo IGM Financial Inc. reported record-high assets under management (AUM) for the third quarter along with net earnings of $198.2 million. The firm’s net earnings were $173.4 million for the same period last year, IGM said in a release. The net earnings per share was $0.82 for Q3, an increase from $0.72 per share for Q3 2017. Good investment returns drove IGM’s AUM to a record-high $159.7 billion for Q3, an increase of 6.5% year-over-year. Investment fund net sales were $137 million. IGM will maintain its dividend of $0.5625 per share. IGM’s subsidiary, IG Wealth, reported a quarterly record-high AUM of $89 billion, an increase of 4.4% from Q3 2017. Its investment fund sales were $2 billion for the third quarter, a decline of 3.6% from the same quarter in 2017. Subsidiary Mackenzie Investments had its best third quarter in its history. The firm sold $2.3 billion of mutual funds in Q3 2018, compared with $1.8 billion for Q3 2017. Net redemptions of mutual funds were $57 million for the quarter compared with net sales of $305 million for the same period last year. The firm’s net ETF creations was $377 million, including its mutual fund investments in ETFs of $62 million. ETF assets under management hit a high of $3 billion in Q3. Mackenzie’s total assets under management were $67.3 billion for the third quarter, an increase from $60.8 billion year-over-year. Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo