TORONTO, ONTARIO -- (Marketwire) -- 09/01/10 -- Counsel Portfolio Services Inc., a division of Investment Planning Counsel Inc., today reported preliminary mutual fund sales and assets under management for the month ending August 31, 2010. Mutual fund assets under management were $2.28 billion at August 31, 2010 compared with $1.96 billion at August 31, 2009 and $2.14 billion at December 31, 2009.
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Mutual Fund Sales -
Month August 2010 August 2009
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$ millions
(unaudited) Sales Redemptions Net New Money (i) Net New Money (i)
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Long Term 36.6 17.4 19.2 5.7
Money Market 3.7 1.8 1.9 0.2
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Total 40.3 19.2 21.1 5.9
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Mutual Fund Sales -
YTD August 2010 August 2009
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$ millions
(unaudited) Sales Redemptions Net New Money (i) Net New Money (i)
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Long Term 291.9 176.2 115.7 22.2
Money Market 32.6 14.6 18.0 16.2
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Total 324.5 190.8 133.7 38.4
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(i) Net New Money is defined as Sales less Redemptions and is consistent
with the terminology used by The Investment Funds Institute of Canada
(IFIC).
For additional information about Counsel Portfolio Services Inc. average assets under management, please see the IGM Financial press release which will be available on September 2, 2010. Additional information about Counsel's 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.
Investment Planning Counsel is an integrated wealth management company focused on providing Canadians with financial products, services and advice to help them achieve their financial dreams. Investment Planning Counsel has developed a strategy that marries the needs of the planners with that of the company. Investment Planning Counsel's intent is to be the premier choice among financial planners who are dedicated to serving the needs of their clients. Investment Planning Counsel is a member of the IGM Financial Inc. (TSX: IGM) group of companies.
Contacts:
Investment Planning Counsel
Steve Meehan
Chief Executive Officer
(905) 212-9799
(905) 212-9675 (FAX)
smeehan@ipcfn.com
