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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
2016 Annual Report
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1st Quarter Report 2017
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Subsidiaries

Investors Group

Investors Group

Investors Group is a national leader in delivering personalized financial solutions through its network of 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 through its network of independent financial advisors. The company if dedicated to providing independent financial advisors with the tools, products and support they need to build a successful business and serve a wide range of clients.

Investment Planning Counsel is one of the largest financial planning organizations in Canada. Since its inception in 1996, it has continued to evolve and grow 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 per share amounts or as otherwise noted)
(unaudited)

March 31
2017

Dec. 31
2016

March 31
2016

December 31
2016

December 31
2015

Financial highlights

         

Revenues

789.7

801.1

722.8

3,044.7

3,027.9

Earnings available to common shareholders

         

Net earnings

177.1

233.0

167.0

770.5

771.7

Adjusted net earnings(1)

177.1

199.0

167.0

736.5

796.0

Diluted earnings per share

         

Net earnings

0.74

0.97

0.69

3.19

3.11

Adjusted net earnings(1)

0.74

0.83

0.69

3.05

3.21

Return on equity (adjusted net earnings)(1)

15.3%

16.3%

14.7%

16.3%

17.4%

Dividends per share

0.5625

0.5625

0.5625

2.2500

2.2500

Average daily investment fund assets (in billions)

139.6

134.8

124.4

129.8

129.4

Total assets under management (in billions)(2)

147.1

142.3

133.4

142.3

134.1

(1) Adjusted net earnings are a non-IFRS financial measure.
(2) Total assets under management excluded $8.3 billion of assets sub-advised by Mackenzie on behalf of Investors Group and Investment Planning Counsel as at March 31, 2017 ($7.9 billion as at December 31, 2016, $7.2 billion as at March 31, 2016 and $7.1 billion as at December 31, 2015).

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

2016

2015

2014

2013

2012

Condensed Consolidated Statements of Earnings

         

Fee income

2,856,934

2,833,355

2,762,578

2,513,186

2,424,574

Net investment income and other

187,849

194,590

164,706

176,836

152,582

 

3,044,783

3,027,945

2,927,284

2,690,022

2,577,156

Expenses

2,097,846

2,037,153

1,962,321

1,708,642

1,618,989

Income before undernoted

946,937

990,792

964,963

981,380

958,167

Income taxes

167,633

210,250

202,862

210,626

190,504

Net earnings

779,304

780,542

762,101

770,754

767,663

Perpetual preferred share dividends

8,850

8,850

8,850

8,850

8,850

Net earnings available to common shareholders

770,454

771,692

753,251

761,904

758,813

Operating earnings available to common shareholders(1)

736,454

796,001

826,100

763,510

746,404

Diluted earnings per share

         

Net earnings

3.19

3.11

2.98

3.02

2.97

Operating earnings(1)

3.05

3.21

3.27

3.02

2.92

Dividends per share

2.25

2.25

2.18

2.15

2.15

Return on average common equity (ROE) (%)

         

Net earnings

17.1

16.9

16.2

17.3

17.6

Operating earnings(1)

16.3

17.4

17.8

17.3

17.3

Average shares outstanding (in thousands)

         

— Basic

241,300

248,173

252,108

252,013

254,853

— Diluted

241,402

248,299

252,778

252,474

255,277

Share price (closing $)

38.20

35.34

46.31

56.09

41.60

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

2016 — A favourable change in income tax provision estimates of $34.0 million related to certain tax filings. 
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.

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