IGM Financial Inc. · TSX:IGM

IGM Financial — Investor Presentation (August 2024)

97 slides from IGM Financial's investor presentation, August 2024

  1. Slide 1: IGM Financial Investor Presentation

    IGM Financial Investor Presentation August 2024

  2. Slide 2: Caution concerning forward-looking statements

    Caution concerning forward-looking statements Certain statements in this report, other than statements of historical fact, are forward-looking statements based on certain assumptions and reflect IGM Financial Inc.’s (IGM Financial, IGM or the Company) and, where applicable, its subsidiaries’ and str

  3. Slide 3: Non-IFRS financial measures & other financial measures

    Non-IFRS financial measures & other financial measures This report contains Non-IFRS financial measures and non-IFRS ratios that do not have standard meanings prescribed by IFRS and may not be directly comparable to similar measures used by other companies. These measures and ratios are used to prov

  4. Slide 4: Non-IFRS financial measures & other financial measures: Other items

    Non-IFRS financial measures & other financial measures Other items Other items for the six months ended June 30, 2024 consisted of: • The Company’s proportionate share of items Lifeco excludes from its base earnings (Lifeco other items) of ($2.0) million, including ($0.9) million recorded in the sec

  5. Slide 5: Documents incorporated by reference

    Documents incorporated by reference This summary document and webcast are meant to discuss, not to serve as a substitute for, information included in these documents. The reader is hereby cautioned to refer to the following documents relating to IGM Financial’s results: 1. Documents related to IGM F

  6. Slide 6: Presentation sections

    Presentation sections IGM Financial Overview 8 Performance Summary 19 Wealth Management IG Wealth Management 32 Rockefeller Capital Management 49 Wealthsimple 53 Asset Management Mackenzie Investments 56 ChinaAMC 69 Northleaf 72 IGM Financial Second Quarter 2024 75 6

  7. Slide 7: Glossary

    Glossary AUM&A Assets Under Management & Advisement IFIC The Investment Funds Institute of Canada AUA Assets Under Advisement IMF International Monetary Fund AUM Assets Under Management OECD Organization of Economic Cooperation and Development CAGR Compound Annual Growth Rate Portag3 Portag3 Venture

  8. Slide 8: IGM Financial Overview

    I Wealth Management Asset Management Financial IGM Financial Overview This way to better KY

  9. Slide 9: IGM Financial: A compelling wealth and asset management company built for growth

    IGM Financial: A compelling wealth and asset management company that is built for growth • A wealth and asset management company that is built for growth • IG Wealth and Mackenzie (the “Core”) are extending their industry leadership positions • Strategic investments in complementary wealth and asset

  10. Slide 10: IGM at a glance

    IGM at a glance Consolidated AUM&A 2023 Adjusted EPS by Segment2,3 $431.7B incl. strategic investments1,2 Mutual Fund AUM Market Top 4 $3.54 Share4 In CANADA Wealth Management Clients ~2 Million Employees 3,600+ 52.6% 2023 Net earnings available $1,149MM 5 to common shareholders 2023 Adjusted Net ea

  11. Slide 11: Strength and scale as part of the Power Corporation group

    Strength and scale as part of the Power Corporation group of companies1 Wealth Asset Corp & management management other 2.4% 20.5% 56.0% 2 3 28.3% 27.8% Access to Investment Investment management Insurance Investment Benefits intellectual management distribution distribution opportunities capital su

  12. Slide 12: Acquisitions, divestments and guiding themes

    Acquisitions, divestments and guiding themes August 2020 $243MM1 - Investing themes October 2020 $196MM2 1 Investing in diversified growth December 2020 $175MM May 2021 - $295MM 2 Risk smart M&A July 2021 $4.7MM3 December 2022 $40MM 3 Simplification of Power Group January 2023 - $575MM January 2023

  13. Slide 13: Growth in Consolidated AUM&A incl. strategic investments

    Growth in Consolidated AUM&A incl. strategic investments Where we WERE Where we ARE IGM AUM&A1 2018 (Dec 31) 2023 (Dec 31) ($B, IGM proportionate share) $86B $121B n/a $33B $1B $9B 2 $26B n/a 3 $61B $119B $24B $95B n/a $15B Consolidated AUM&A including strategic investments4 ~$200B ~$390B 1) AUM&A f

  14. Slide 14: A compelling wealth and asset management line up

    A compelling wealth and asset management line up Leadership positions in Canadian wealth and asset management; diversified earnings drivers in adjacent markets Wealth Management1 (AUA $181B2) Asset Management (AUM $331B2) Corporate & other Publicly traded, international Comprehensive personal financ

  15. Slide 15: IGM is focused on bettering lives for tomorrow

    IGM is focused on bettering lives for tomorrow IGM’s sustainability strategy Our sustainability strategy centres us on what matters most to our business and stakeholders, seeking to accelerate positive change in areas where we can make the greatest impact as wealth and asset managers. Initiatives we

  16. Slide 16: Sustainability highlights

    Sustainability highlights1 Building Advancing Accelerating financial well-being sustainable investing DE&I in finance • IG launched a new segmented • $6.0B AUM in sustainable solutions, up • 84% of employees self-identified Our focus advice model tailored to clients’ from $4.8B in 2022 through our C

  17. Slide 17: Clear medium-term capital allocation priorities

    Clear medium-term capital allocation priorities #1 Invest in our Core businesses to position them for long-term success Strong dividend Share buybacks M&A Sustain strong current Offset dilutive effect of stock Focus on investing in the #2 dividend option program wealth and asset management business

  18. Slide 18: 2024 focus

    2024 focus WEALTH MANAGEMENT ASSET MANAGEMENT Focusing on industry wealth drivers, growing the Leveraging investment excellence and product 2024 Areas segmented advice model and leveraging leading innovation to win in Canadian retail and of Focus technologies to drive market share gains provide aven

  19. Slide 19: Performance Summary

    IGM Financial Performance Summary 19

  20. Slide 20: Financial market and client investment returns

    Financial market and client investment returns IGM Client Return Index1 Investment Performance 2024 YTD at 1.8 2021 2022 2023 Jul 31/24 IGM Client Investment Returns 2,3 11.9% (9.9%) 9.9% 10.5% 1.7 Equity Markets: Canada (S&P / TSX Composite) 25.1% (5.8%) 11.8% 12.3% 1.6 U.S. (S&P 500) 28.7% (18.1%)

  21. Slide 21: Industry operating environment and IG and Mackenzie net flows rates

    Industry operating environment and IG and Mackenzie net flows rates Annual Industry Long-term Net Sales Long-term Net Flows Rate as at December 31, 2023 ($B) (Last Twelve Month Trailing, % of Average Assets) Mackenzie investment funds 1,2 Mackenzie retail investment funds 2 Total Industry Industry A

  22. Slide 22: Annual net flows

    Annual net flows IGM Financial Consolidated Annual Net Flows1 ($MM) Wealth Management • IG Wealth 2023 Gross inflows of $12.7B; +25% of new 8,701 client gross inflows during 2023 from new $1MM+ clients 7,099 • Rockefeller organic and inorganic growth of US$16.1B during 2023 • Wealthsimple grew AUA b

  23. Slide 23: Second quarter ending AUM&A

    Second quarter ending AUM&A (CAD $B) Consolidated AUM&A incl. SI1 Wealth Management Asset Management 3 2 2 2 2 406.5 431.7 +15% Sub-advised AUM to 376.1 Wealth Management: 328.9 Q2/23 Q2/24 $79.4B (Q2/23 $76.7B) Q2/24 Additional AUM&A not 3 included in Consolidated 193.3 202.1 191.6 AUM&A incl. SI 1

  24. Slide 24: Adjusted net earnings available to common shareholders by segment

    Adjusted net earnings available to common shareholders1 by segment ($MM) Wealth Management2 Asset Management Corporate & Other3,5 IGM Consolidated4,5 Year-over-year change includes Year-over-year change includes -3% 2022 the impact of the additional impact of the partial sale of 867.2 843.0 equity i

  25. Slide 25: Positioned for earnings growth; returning capital to shareholders

    Positioned for earnings growth and levered to markets; returning capital to shareholders Maintained solid adjusted EPS through market volatility partly due to focus on expense management Capital returned to shareholders 3 10-year avg. adj. EPS1 of ~$3.15 (2011-2020) $537M 4.05 annual dividend declar

  26. Slide 26: Returning capital to shareholders with financial flexibility

    Returning capital to shareholders with financial flexibility Return of Capital to Leverage Balanced approach to capital Shareholders (Debt/LTM EBITDA1) allocation: ($MM) Short-term financing Dividends Return of capital to shareholders: related to acquisition of Share repurchases a stake in Rockefell

  27. Slide 27: Confidence in achieving medium-term financial objectives

    Confidence in achieving our medium-term financial objectives and creating long-term stakeholder value1 Medium-term Financial Objective – IGM Financial 5-year EPS growth 7%+ 2 Core businesses 5-year earnings CAGR 9%+ 5-year adjusted EPS CAGR2,3 15%+ 2,3 Strategic Sum-of-the-parts investments 5-year e

  28. Slide 28: Core businesses medium-term financial objectives

    Core businesses medium-term financial objectives1 Focusing efforts on what is within our control and AUM&A  ~8% growth in AUM&A 1  5% market appreciation assumption based on company asset mix  ~3% average net flows rate over market cycle (~2% industry2 + ~1% share gain) 2 Efficiency/expense growt

  29. Slide 29: Strategic investments diversify and accelerate earnings growth profile

    Strategic investments diversify and accelerate earnings growth profile1 Medium-term objectives & expected benefits  Target recruiting of $120M in annual production acquired2  Target organic growth of 6-8%3  Current capacity to scale and create operating leverage 15%+ 5-year earnings CAGR4  Stron

  30. Slide 30: IGM Financial: Investment highlights

    IGM Financial: Investment highlights Well-positioned for sustainable earnings growth through leadership positions & strong execution at IG Wealth and Mackenzie Investments Strategic investments in complimentary asset and wealth managers tilt Company toward stronger, diversified AUM&A and earnings gr

  31. Slide 31: Wealth Management

    ———— Wealth Management WEALTH ROCKEFELLER a si 2 1G Minn teens NOCSERELEER Wealthsimple This way to better NY)

  32. Slide 32: Key messages – IG Wealth Management

    Key messages – IG Wealth Management Accelerating growth through a clear strategy led by an energized and experienced leadership team Targeting key high net worth and mass affluent segments by aligning our capabilities to industry wealth drivers Utilizing a segmented advice model to align IG’s best-i

  33. Slide 33: IG Wealth Management at a glance

    IG Wealth Management at a glance Leading wealth management company in Canada; inspiring financial confidence Key statistics1 Total AUM&A $129.7 B #1 in 10 Dealer $6.6 Billion Total AUM $114.7B Report Card Client Clients categories5 Mortgages 1 Million+ 1,655 – Industry leader in holding $105 Billion

  34. Slide 34: Our unique model gives us a competitive advantage for growth

    Our unique model gives us a competitive advantage for growth IG Wealth Management is in a leadership position and beyond market standard in many categories We advise our clients’ financial lives across many dimensions allowing them to achieve financial confidence What makes us unique How we know Cli

  35. Slide 35: IG Wealth's leading advisor value proposition

    IG Wealth’s leading advisor value proposition 2023 Investment Executive Dealers’ Report Cards1 Strong Position vs. Big 5 Bank FSBs Overall Dealer Report Card Rating2 Net Promoter Score Peer Avg (out of -100 to +100) 8.8 IG Wealth Rating 8.6 8.4 84 84 8.2 8.3 76 8.0 8.0 8.0 7.8 66 7.6 54 12 Bank Bank

  36. Slide 36: IG Wealth Management transformation journey

    IG Wealth Management transformation journey Strategic shift to Mass Affluent and High Net Worth Where we WERE (Jan 1, 2018) Where we ARE (Jan 1, 2023) Where we are GOING (Jan 1, 2028) Competed for Mass and MA segments Serving MA and HNW clients with fee- Target key HNW segments through advisor expan

  37. Slide 37: Canadian financial assets projected to grow to $11.2 trillion by 2032

    Canadian financial assets projected to grow to $11.2 trillion by 2032 Canadian Financial Wealth ($T) By generation By wealth band1 11.2 11.2 0.7 Gen Z 2.0 Millennials 3.3 $10MM+ 1.5 $5MM – 10MM 6.2 3.6 Gen X 6.2 0.5 1.8 1.7 4.1 $1MM – 5MM 0.8 3.0 4.6 Baby Boomers 2.2 1.6 $250K – 1MM 1.0 0.9 0.4 Trad

  38. Slide 38: Helping clients navigate industry wealth drivers is fuelling our growth

    Helping clients navigate industry wealth drivers is fuelling our growth Philanthropy and Tax Planning and Legacy Planning Optimization Adults 65+ contribute ~45% of charitable donations annually 6 1 8 provinces have combined highest tax rate > 50%2 (~$11B in 2020 from all age groups)1 HNW Financial

  39. Slide 39: Clear strategic pillars to enable long-term growth strategy

    Clear strategic pillars to enable long-term growth strategy 1 2 3 Driving Elevating Investing best-in-class advice platforms, products and in people and driving experience in a segmented services that resonate with productivity through way HNW digitalization and partnerships Our goal is to help Cana

  40. Slide 40: Best-in-class advice experience targeting key HNW segments

    Best-in-class advice experience targeting key HNW segments IG Regional Family Office Advice Model HNW client segments PLANNING SKILLS PLANNING TOOLS 1 | Business owners  ~1,650 CFP/Pl. Fin  Living Plan Portal Professionals1  Advisor Portal 2 | Professionals  Team based practices 3 | Pre-retirees

  41. Slide 41: Our segmented advice model will allow us to scale our advice experience

    Our segmented advice model will allow us to scale our advice experience across the client spectrum 20181 20232 Benefits ENTREPRENURIAL TEAM ADVICE  Create a better experience ENTREPRENURIAL 1 FOCUS = > $250K 1 ADVISORS for our current Mass Market clients with expanded Employee 100% ~$86B 72% ~$109B

  42. Slide 42: Significant opportunity to gain market share

    Significant opportunity to gain market share IG AUA by client wealth band1 ($B) New client assets brought 2018 2023 2028 > 90% of assets are Mass Affluent and HNW to IG Wealth Last twelve months trailing ($MM) EMPLOYEE ENTREPRENEURIAL CHANNEL CHANNEL ~$3.8B OPPORTUNITY OPPORTUNITY <$100K & DEDICATED

  43. Slide 43: Well-constructed managed solutions provide advisors the best opportunity

    Well-constructed managed solutions provide advisors with the best opportunity to focus on providing comprehensive financial planning 82% OF LONG-TERM GROSS SALES (LTM) | 72% OF LONG-TERM FUND ASSETS + MANAGED SOLUTIONS FOR UNIQUE PLANNING NEEDS + ENHANCED MONTHLY INCOME PORTFOLIOS The iProfile Portf

  44. Slide 44: Leading portfolio construction with public, private and alternative strategies

    Leading portfolio construction with investment solutions that include public markets, private markets and alternative strategies Illustration of iProfile Global LIQUID ALTERNATIVES Neutral Balanced Model EXPANDED USE OF PRIVATE CANADIAN PRIVATE CREDIT MARKET EQUITY & REAL ESTATE INVESTMENTS & LIQUID

  45. Slide 45: Leading investment solutions managed by top global asset managers

    Leading investment solutions at IG Wealth managed by top global public and private markets asset managers with strong investment performance 66% iProfile managed of assets rated 4 or 5 stars solutions provide by Morningstar1 access to: 94% Well-constructed managed solutions by world-class asset mana

  46. Slide 46: Opportunity to elevate investment, mortgage and insurance services offerings

    Significant opportunity to elevate investment, mortgage and insurance services offerings Investment Mortgage and Insurance Private Company services banking services services Advisory  HNW platform expansion  Advance digital origination  Enhance carrier  Comprehensive advisory partnerships and op

  47. Slide 47: Continued investment in technology, digitalization and partnerships

    Continued investment in technology, digitalization and partnerships Driving a better advisor and client experience and fueling future productivity Investing in our client portal to modernize and Exploring additional Fintech accelerators create an interactive, personalized user interface K E Y F E AT

  48. Slide 48: Strong advisor productivity

    Strong advisor productivity Gross Inflows per Advisor Recruit Gross Inflows per Advisor Practice with <4 years experience ($MM) with >4 years experience1 ($MM) Productivity in-focus • Scaling our segmented advice model to help provide consistent services to all 1.92 0.68 clients and create capacity

  49. Slide 49: Rockefeller Capital Management snapshot

    Rockefeller Capital Management snapshot Trusted advisors to HNW/UHNW investors, businesses and institutions navigating the complexities of family and wealth Respected brand with extensive footprint Offices covering 28 markets in major U.S. wealth centres Founded 2018 IGM % economic interest 20.5% Co

  50. Slide 50: Unique competitive advantages

    Unique competitive advantages Comprehensive service offering Elite wealth advisors uniquely positioned to serve HNW and UHNW client segments Personalized Holistic Family through Rockefeller brand Investment Advisory Office Solutions Customized Proactive, Tax-Focused Investment Wealth Strategy Servic

  51. Slide 51: Client assets and key performance indicators

    Client assets and key performance indicators Client Assets (US$B) Key Performance Indicators 140 Organic growth2 target at annual Organic rate of 6-8%3 (excludes market 122 growth appreciation) 97 98 Selectively add advisor teams Inorganic representing ~$120M production 67 growth acquired4 per year

  52. Slide 52: IGM + Rockefeller Capital Management strategic benefits

    IGM + Rockefeller Capital Management strategic benefits Collaboration Distribution Strategic advisory1  Create knowledge-sharing  Two-way flow of world-class  Leverage expertise of opportunities between investment solutions from seasoned investment bankers respective organizations Rockefeller Ass

  53. Slide 53: Wealthsimple Snapshot

    Wealthsimple Snapshot Key differentiators AUA ($B) Client Count1 (000s) 43.6 Client 2,500 Majority of customer base are Millennials 2,228 2,031 31.0 1,753 Technology Forward-looking innovation drives 18.4 18.3 business growth 9.3 597 4.7 Brand 2.5 102 182 Distinct identity, strong loyalty and awaren

  54. Slide 54: Winning the next-generation of clients through product innovation

    Winning the next-generation of clients by increasing accessibility through product innovation Focus on product “firsts” Accessibility focus with Next-generation clients that make financial tools an innovation mindset more accessible  ~50% of clients say  Intuitive accessible user Wealthsimple was

  55. Slide 55: Asset Management

    a Asset Management fPX& MACKENZIE — @ cninaame Northleaf Investments This way to better KY

  56. Slide 56: Key messages – Mackenzie Investments

    Key messages – Mackenzie Investments Strong execution to date towards becoming Canada’s preferred global investment management solutions provider and business partner Leveraging foundational qualities that provide competitive advantage within Canadian financial advisor channel and provide avenues to

  57. Slide 57: Mackenzie Investments at a glance

    Mackenzie Investments at a glance Key stats Institutional and Retail partnerships Founded 1967 Regions served Total AUM1 $202.1B Background  Investment solutions provider  Partnerships with wealth of choice to financial advisors managers  >30K financial advisor  Sub-advisory and institutional re

  58. Slide 58: Mackenzie is gaining ground in client engagement and market position

    Mackenzie is gaining significant ground in client engagement scores and market position Advisor perception study1 – mutual funds Advisor channel overall sales penetration Mackenzie overall results (% of advisors actively selling fund manager’s products) 90 Clear 2013 2023 80 #2 Consistently in 70 To

  59. Slide 59: Mackenzie Investments transformation journey

    Mackenzie Investments transformation journey Assets under management Adj. Earnings before interest and taxes (“EBIT”)3 ($B) ($M) 5-year CAGR: 5-year CAGR: 25.6% GLC 345.4 11.2% 210.3 IG 2 17.0 313.1 195.7 303.4 185.1 186.6 Ex-acquisition 2019 – Sub-advisory relationship with IG Total 81.2 Wealth Man

  60. Slide 60: Mackenzie's target market is large and growing

    Mackenzie’s target market is large and growing Canadian Financial Wealth ($T) By savings vehicle1 By distribution channel 11.2 6% 11.2 6% Total CAGR Total CAGR 3% 4% 2.7 3.1 Deposits Bank Branches 6% 2.0 Non-Disc. Securities 9% 1.9 6.2 6.2 Online/Discount 9% 7% 1.9 Discretionary 1.4 1.9 2.1 Private

  61. Slide 61: Mackenzie strategy

    Mackenzie strategy Mission Creating a more invested world, together. Foundational Boutique approach and Power Group Brand Fostering Culture qualities breadth of capabilities ecosystem leadership sustainability and talent Strategic Building meaningful Developing presence in Winning Canadian retail st

  62. Slide 62: Investment excellence

    Investment excellence through institutional quality processes and capabilities 1 Talent management excellence 2 Institutional quality processes 3 Well-resourced to foster great client outcomes  Foster careers of exceptional  Clear investment “edge” and  Best-in-class investment investors philosop

  63. Slide 63: Global investment capabilities, diversified across asset classes and geographies

    Global investment capabilities, diversified across asset classes and geographies Opportunity to grow client base outside of Canada Total AUM $202.1B1 >90% of clients are Canadian (by AUM) Multiple delivery vehicles Multiple support services  150+ investment professionals in seven locations around t

  64. Slide 64: World-class investment talent spanning 16 boutiques

    World-class investment talent spanning 16 boutiques Lesley Marks Steve Locke Chief Investment Officer, Chief Investment Officer, Fixed Equities Income & Multi-Asset Strategies 1 Asia Konstantin Nick Scott 1 Fixed Income Boehmer  Diversity of styles and breadth of capabilities no 2 Betterworld1 Andr

  65. Slide 65: Mackenzie has a diversified suite of capabilities

    Mackenzie has a diversified suite of capabilities, ensuring that there is something relevant and compelling for all client needs and across market environments Mackenzie assets by Morningstar Rating1  In Canada, performance peer groups for Morningstar ratings 100% One Star are very broad Two Star 8

  66. Slide 66: Demonstrated track record of innovation

    Demonstrated track record of innovation Focused on relevant areas with greatest growth potential Delivery Exceptional investment capabilities Range of vehicles Tax and operational efficiency Focus Emphasis Alternative and Outcome- Sustainable and Portfolio Areas diversifying asset oriented values-ba

  67. Slide 67: Meaningful opportunity to increase strategic partnerships

    Meaningful opportunity to increase strategic partnerships SPOTLIGHT: Mackenzie is one of two exclusive providers to >$15B and growing ~$79B strategic partner ~$50B strategic partner wealth manager with >7,000 advisors and sister company and sister company Launched exclusive Mackenzie FuturePath prod

  68. Slide 68: Developing presence in institutional channels

    Developing presence in institutional channels Spotlight: Global Quant Equity boutique 24 institutional mandates Excess Returns to Benchmark1 (June 30/24) Mandate Inception 3-year 5-year Since Inception (SI) Background Small Cap Large Cap May 18 Jun 18 3.2% 2.9% 4.1% 4.7% 5.0% 4.1% #1 Quant Emerging

  69. Slide 69: ChinaAMC snapshot

    ChinaAMC snapshot Strong, supportive shareholders Founded 1998 IGM % ownership interest 27.8% Tianjin Haipeng Sci-Tech AUM 2.2 T RMB/ $407B1 Investment 27.8% 62.2% 10% Investment professionals 250+ Retail: 210M+ # of investors Institutional: 240K+ Strategic benefits +  Enhances Mackenzie’s  Enable

  70. Slide 70: Enormous growth opportunities

    Enormous growth opportunities Both for China’s mutual fund industry and ChinaAMC Household Savings (2022) Investment Fund Assets Investment Fund Industry Forecasts1 as % of GDP (2022) Compound Annual Growth Rate in AUM 112.2% China Canada 46.2% a household 99.2% 14.2% 14.5% saving rate of 13.9% 46%

  71. Slide 71: ChinaAMC growth is outpacing robust industry expansion

    ChinaAMC growth is outpacing robust industry expansion Assets under management1 (RMB billions) Chinese Mutual Fund Industry Top 10 Long-term 2,159 Fund3 Provider Market Share (% at June 30, 2024) 1,824 5-year Investment • ChinaAMC’s long-term fund market share 1,722 increased to 5.4% from 4.8% year

  72. Slide 72: Northleaf snapshot

    Northleaf snapshot Investors choose to work with Northleaf to access private investments in mid- market companies and assets globally Founded 2002 10 GLOBAL OFFICES IGM % economic interest 56% Northleaf offices AUM $29B1 Investment professionals 250 Institutional investors 250+ Private Equity Privat

  73. Slide 73: An integrated platform and partnerships drive capital raising growth

    An integrated platform and partnerships with leading institutional investors drive capital raising growth Integrated platform focused on mid-market companies Private Equity Infrastructure Private Credit  Value creation in companies globally  Direct investments in private infrastructure  Direct le

  74. Slide 74: Northleaf's strategic partnership with IGM and GWL

    Northleaf’s strategic partnership with IGM and GWL Northleaf’s current growth …enables IGM and GWL to provide institutional global private strategy… markets solutions to wealth management and insurance investors Wealth and asset management Insurance and wealth management  Maintain superior investme

  75. Slide 75: Second Quarter 2024

    IGM Financial Second Quarter 2024 75

  76. Slide 76: IGM Financial Q2, 2024 highlights

    IGM Financial Q2, 2024 highlights Reported EPS Adjusted EPS1 Second quarter adjusted EPS1 of $0.93, up 4.5% vs. Q2/23; second best $0.91 $0.93 Q2 adjusted EPS on record +56.9% vs Q2/23 +4.5% vs Q2/23 AUM&A and flows highlights: Consolidated Net flows IG Wealth Rockefeller Wealthsimple Mackenzie Chin

  77. Slide 77: Industry operating environment

    Industry operating environment Second Quarter Industry Long-term Net Sales ($B) Total Industry Industry Asset Manager Peers Industry Asset Manager Peers Net Sales ($B) 28.7 Categories Q2/23 Q2/24 $ Change 14.0 11.4 14.2 Balanced (4.7) (4.2) 0.5 5.5 7.0 3.8 3.7 Foreign Equity (2.9) (0.9) 2.0 1.3 2.8

  78. Slide 78: IGM Financial Q2, 2024 results

    IGM Financial Q2, 2024 results Net Earnings Adj. Net Earnings2 ($MM) ($MM) Total AUM&A1 ($B) 216 211 220 Daily AUM&A Annual Average AUM&A Quarterly Average AUM&A 270 138 260 250 240 230 Net Earnings Adj. Net Earnings 220 Per Share ($) Per Share2 ($) 210 0.91 0.89 0.93 200 190 0.58 180 170 160 2022 2

  79. Slide 79: Adjusted net earnings available to common shareholders by segment

    Adjusted net earnings available to common shareholders1 by segment ($MM) Wealth Management2 Asset Management Corporate & Other3 IGM Consolidated4 +4% 220.4 211.4 Q2/23 -1% Q2/24 110.2 108.7 +10% 84.8 77.1 +21% 26.9 22.3 1) A non-IFRS financial measure - see Non-IFRS financial measures and other fina

  80. Slide 80: Wealth management Q2, 2024 highlights

    Wealth management Q2, 2024 highlights Ending AUM&A of $129.7B increased 11% year-over-year • AUM&A grew 1.3% during the quarter, driven by client returns of 1.6% • Client asset growth of 5% during Q2 gross inflows of $3.6B represent another solid quarter the quarter3 and 25% year-over- • Net outflow

  81. Slide 81: IG Wealth Management net flows

    IG Wealth Management net flows IG Wealth Management Gross and Net flows1 ($MM) IG Wealth Management Net Flows2 ($B) Gross Inflows Gross Outflows Net Flows (Last Twelve Month Trailing, as at July 31, 2024) Month of July 1,322 1,073 1,194 658 706 719 806 663 949 Total Net Flows IGM Product Net Flows C

  82. Slide 82: IG Wealth Management Q2, 2024 operating results

    IG Wealth Management Q2, 2024 operating results Gross Inflows Gross Outflows Rate Asset Under Advisement Q2/24 Highlights ($MM) (Quarterly annualized) ($B) Cash, GICs, HISAs ▪ Gross inflows of $3.6B, up 3rd party 3,565 IGM Solutions (AUM) 27.5% year-over-year 11.7% 128.0 129.7 2,795 11.1% 116.8 6.1

  83. Slide 83: IG Wealth Management – key profitability drivers

    IG Wealth Management – key profitability drivers 1 Driven by strong market performance, strength Daily Average Assets ($B), Advisory and Product Key Revenue & Expenses as bps of in high-net-worth client & Program Fee Rate (bps)1 Respective Driver (AUA or AUM)1 acquisition and composition of AUA 128.

  84. Slide 84: IG Wealth Management profitability

    IG Wealth Management profitability $ Millions (unless otherwise noted): Change QoQ Change YoY IG Wealth Management Q2/23 Q1/24 Q2/24 $ % $ % Advisory and product and program fee revenue up Days in the period 91 91 91 0.0% 0.0% Average assets under advisement ($B) 116.1 124.0 128.1 4.2 3.4% 12.1 10.4

  85. Slide 85: Asset management Q2, 2024 highlights

    Asset management Q2, 2024 highlights Ending AUM of $202.1B increased 4.5% year-over-year • AUM decreased by 0.8% during the quarter; net redemptions partially off set by client returns of 1.2% • ChinaAMC investment fund AUM growth of 25%2 versus Q2/23, exceeding industry growth Investment fund net r

  86. Slide 86: Mackenzie Investments net flows

    Mackenzie Investments net flows Mackenzie Adjusted Investment Fund Flows1 ($MM) Mackenzie Adjusted Investment Fund Net Flows1 ($B) (Last twelve month trailing, as at July 31, 2024) MF Gross Sales MF Redemptions MF Net Sales ETF Net Flows Month of July Total Retail 784 830 802 868 8.0 536 660 674 475

  87. Slide 87: Mackenzie Q2, 2024 operating results

    Mackenzie Q2, 2024 operating results Retail Mutual Fund Gross Sales Morningstar Star Ratings1 13 of top 20 rated mutual Q2/24 Highlights ($MM) (% Proportion of Assets) funds 4/5 star (series F) 1,724 Mackenzie – Jun. 2024 ▪ Retail mutual fund gross Mackenzie – Mar. 2024 51% 52% sales of $1.7B, up 18

  88. Slide 88: Investment boutique retail mutual fund & ETF

    Investment boutique retail mutual fund & ETF Fixed Managed 3rd Party Value-Oriented Quality Growth-Oriented Sustainable Core & Dividend Income Solutions & Other North Global Global Fixed Multi-Asset ChinaAMC, Cundill American Ivy Growth Bluewater Resources Greenchip Quantitative Equity & Income Stra

  89. Slide 89: Mackenzie – key profitability drivers

    Mackenzie – key profitability drivers Average AUM ($B), Net Asset Management Fee Rate Net Asset Management Fee Rates1 (bps)1 (as bps of respective AUM) Sub-advisory and 198.9 201.8 193.1 AUM to Wealth 191.9 189.3 80.9 81.1 Management 80.4 79.4 78.7 Third Party AUM 77.9 79.0 Third-party 76.7 76.4 75.

  90. Slide 90: Mackenzie profitability

    Mackenzie profitability $ Millions (unless otherwise noted): Change QoQ Change YoY Mackenzie Investments Q2/23 Q1/24 Q2/24 $ % $ % Days in the period 91 91 91 0.0% 0.0% Net asset management fees up 3.2% year-over- Average assets under management ($B) Third Party AUM 116.3 121.0 122.8 1.8 1.5% 6.5 5.

  91. Slide 91: IGM Financial Q2, 2024 financial highlights

    IGM Financial Q2, 2024 financial highlights Reported EPS $0.91 • Second quarter adjusted EPS1 of $0.93, up 4.5% year-over-year +56.9% vs Q2/23 • Q2/24 adjusted EPS excludes the proportionate share of associates earnings from: • Lifeco other items which represented ($0.9MM) during the quarter Adjuste

  92. Slide 92: IGM Financial consolidated profitability

    IGM Financial consolidated profitability $ Millions (unless otherwise noted): Change QoQ Change YoY IGM Financial Consolidated Q2/23 Q1/24 Q2/24 $ % $ % Days in the period Average AUM & AUA ($ Billions) 91 91 91 0.0% 0.0% 1▪ Higher AUM&A, up 7.4% year-over-year and 2.4% Wealth Management AUM & AUA A

  93. Slide 93: Adjusted net earnings by segment and company

    Adjusted net earnings available to common shareholders1 by segment and company ($MM) Wealth Asset Corporate IGM Management2 Management3 & Other2,4 Consolidated5 +4% Q2/23 220.4 211.4 Q2/24 -1% 112.8 111.7 FVTOCI +12% 50.1 55.9 +2% +21% 24.9 25.5 +68% 22.3 26.9 0.4 2.5 4.2 (1.9) (2.8) (0.5) 1) A non-

  94. Slide 94: Summary: Segment breakdown

    Summary: Segment breakdown Adj. Earnings by Segment Strategic Investments – Ownership and value Q2/23 Adj. Q2/24 Adj. YoY Ownership Accounting Q2/24 Net Q2/24 Value Assumption $ millions Earnings1 Earnings1 Change Q2/23 | Q2/24 Basis Carrying Value Fair Value WEALTH MANAGEMENT2 IG $112.8 $111.7 (1%)

  95. Slide 95: Adjusted net earnings and valuation by company

    Adjusted net earnings available to common shareholders and valuation by company ($MM) Adjusted Net Earnings Available to Common Shareholders1 2023 843 6 913 Analyst Consensus2 432 470 2024 204 253 FVTOCI 94 99 89 80 14 17 8 3 (1) (6) 2024 Analyst 4 UNALLOCATED 4 OTHER CAPITAL Estimates2 EPS $1.97 -$

  96. Slide 96: Appendix

    I Wealth Wealth Management Asset Management Financial Appendix This way to better KY

  97. Slide 97: 2024 expense guidance

    2024 expense guidance Guidance and Outlook1: Combined Operations & Support and Business Development Expenses IGM Consolidated2 (year-over-year change) 5-year technology & 2023 expense growth of 1.7%, below operations transformation 2024 expense growth of 3.5% plus announced guidance of ~2%, driven b

IGM Financial — Investor Presentation (August 2024) on 6ix