IGM Financial Inc.’s earnings for the first quarter of 2012 were down 5.8%, to $199.7 million, compared to a year ago.
Revenues for the three months ended March 31, 2012 were $673.1 million compared, down 5.4% from a year ago. Expenses for the three months ended March 31, 2012 were $414.4 million, down 2.7% from a year ago.
Total assets under management at March 31, 2012 were $124.1 billion, down 7.4% from the AUM of $134.1 billion at March 31, 2011.
At March 31, 2012 there were 2,714 Consultants with 4 years or more of Investors Group experience, up from 2,705 at December 31, 2011. The number of Investors Group Consultants was 4,522 at March 31, 2012, down from 4,608 at December 31, 2011.
"During the first quarter, the median asset growth rate for Investors Group clients was 4.7% following a median growth rate of 2.3% in the 4th quarter of 2011," said Murray J. Taylor, President and Chief Executive Officer of Investors Group Inc. "We have announced the addition of a further regional office in Calgary as we continue to invest in the growth of our Consultant Network."
Mutual fund sales for the first quarter of 2012 were $1.83 billion, down 10.7% from the previous year, while mutual fund net sales for the first quarter were down 65% to $175 million.
Mutual fund assets under management at March 31, 2012 were $60.6 billion compared to $64.0 billion at March 31, 2011, a decrease of 5.3%.
