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IGM Financial 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.

The company serves the financial needs of Canadians through multiple distinct businesses, including Investors Group, Mackenzie Investments and Investment Planning Counsel.

IGM Financial Website

Latest reports
2015 Annual Report
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1st Quarter Report 2016
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Subsidiaries

Investors Group

Investors Group

Investors Group is a national leader in delivering personalized financial solutions through a network of approximately 5,300 consultants to nearly one million Canadians.

Investors Group is committed to comprehensive planning and offers an exclusive family of mutual funds and other investment vehicles, along with a wide range of insurance, securities, mortgage and other financial services.

Mackenzie Investments

Mackenzie Investments

Mackenzie Investments is recognized as one of Canada’s premier investment managers and provides investment advisory and related services through multiple distribution channels focused on the provision of financial advice.

Mackenzie offers mutual funds, pooled funds, segregated accounts and separate accounts for retail and institutional investors.

Investment Planning Counsel

Investment Planning Counsel

Investment Planning Counsel is an integrated financial service company focused on providing Canadians with high-quality financial products, services, and advice while helping them achieve their financial dreams. Investment Planning Counsel is a leading choice for independent financial planners dedicated to delivering quality, client-focused advice.

Investment Planning Counsel is the fifth largest independent distributor of financial products, services and advice in Canada. From its inception in 1996, it has continued to evolve and adapt to meet the needs and expectations of its clients and advisors.


Financial Highlights

 

For the three months ended

For the years ended

(In millions of Canadian dollars, except as otherwise noted)
(unaudited)

March 31
2016

December 31
2015

March 31
2015

December 31
2015

December 31
2014

Financial highlights

         

Revenues

722.8

752.1

760.9

3,027.9

2,927.3

Earnings available to common shareholders

         

Operating earnings(1)

167.0

198.2

200.3

796.0

826.1

Net earnings

167.0

173.9

300.3

771.7

753.3

Diluted earnings per share

         

Operating earnings(1)

0.69

0.81

0.80

3.21

3.27

Net earnings

0.69

0.71

0.80

3.11

2.98

Return on equity (operating earnings)(1)

14.3%

17.0%

17.1%

17.0%

17.8%

Dividends per share

0.5625

0.5625

0.5625

2.2500

2.1750

Average daily mutual fund assets (in billions)

124.4

127.8

129.9

129.4

123.5

Total assets under management (in billions)(2)

132.9

133.6

148.4

133.6

141.9

(1) Non-IFRS financial measures.
(2) Total assets under management excluded $7.2 billion of assets sub-advised by Mackenzie on behalf of Investors Group and Investment Planning Counsel as at December 31, 2015 ($7.1 billion as at December 31, 2015, $6.8 billion as at March 31, 2015, and $6.3 billion as at December 31, 2014).

For the years ended December 31 [in thousands of Canadian dollars, except as otherwise noted]
(unaudited)

2015

2014

2013

2012

2011

Condensed Consolidated Statements of Earnings

         

Fee income

2,833,355

2,762,578

2,513,186

2,424,574

2,571,076

Net investment income and other

194,590

164,706

176,836

152,582

161,376

 

3,027,945

2,927,284

2,690,022

2,577,156

2,732,452

Expenses

2,037,153

1,962,321

1,708,642

1,618,989

1,635,154

Income before undernoted

990,792

964,963

981,380

958,167

1,097,298

Income taxes

210,250

202,862

210,626

190,504

250,497

 

780,542

762,101

770,754

767,663

846,801

Discontinued operations

62,644

Net earnings

780,542

762,101

770,754

767,663

909,445

Perpetual preferred share dividends

8,850

8,850

8,850

8,850

8,850

Net earnings available to common shareholders

771,692

753,251

761,904

758,813

900,595

Operating earnings available to common shareholders(1)

796,001

826,100

763,510

746,404

832,991

Diluted earnings per share

         

Net earnings

3.11

2.98

3.02

2.97

3.48

Operating earnings(1)

3.21

3.27

3.02

2.92

3.22

Dividends per share

2.25

2.18

2.15

2.15

2.10

Return on average common equity (ROE) (%)

         

Net earnings

16.5

16.2

17.3

17.6

21.3

Operating earnings(1)

17.0

17.8

17.3

17.3

19.7

Average shares outstanding (in thousands)

         

— Basic

248,173

252,108

252,013

254,853

258,151

— Diluted

248,299

252,778

252,474

255,277

259,075

Share price (closing $)

35.34

46.31

56.09

41.60

44.23

(1) Non-IFRS financial measures — excludes other items as follows:

2015 — An after-tax charge of $24.3 million related to restructuring and other charges.
2014 — An after-tax charge of $59,2 million related to distributions to clients, as well as other costs and an after-tax charge of $13.6 million related to restructuring and other charges.
2013 — An after-tax charge of $10.6 million related to restructuring and other charges and an after-tax benefit of $9.0 million representing IGM's proportionate share of net changes in Great-West Lifeco Inc.'s (Lifeco) litigation provision.
2012 — A favourable change in income tax provision estimates of $24.4 million related to certain tax filings, an after-tax charge of $5.6 million representing IGM's proportionate share of net changes in Lifeco's litigation provisions, and a non-cash income tax charge of $6.4 million resulting form increases in Ontario corporate income tax rates and their effect on the deferred income tax liability related to indefinite life intangible assets arising from prior business acquisitions.
2011 — Net earnings from discontinued operations of $62.6 million and an after-tax benefit of $5.0 million representing IGM's proportionate share of net changes in Lifeco's litigation provisions.

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