Home Breadcrumb caret Industry News Breadcrumb caret Industry IGM, GMP report Q2 earnings and AUM IGM Financial Inc. finished the second quarter with record-high assets under management, posting net earnings of $203.7 million. The firm reported net earnings per share of $0.85, up from $0.83 in the second quarter of 2017. Overall net earnings were up 1.4% from the same quarter in 2017. Read: Great-West Lifeco reports Q2 earnings “IGM […] By Staff | August 3, 2018 | Last updated on August 3, 2018 2 min read IGM Financial Inc. finished the second quarter with record-high assets under management, posting net earnings of $203.7 million. The firm reported net earnings per share of $0.85, up from $0.83 in the second quarter of 2017. Overall net earnings were up 1.4% from the same quarter in 2017. Read: Great-West Lifeco reports Q2 earnings “IGM finished the quarter with a record-high assets under management of $159.1 billion,” said IGM president and CEO Jeffrey R. Carney in a release. “This was the result of strong client returns in the quarter combined with second quarter investment fund net sales of $171 million, in a period of slower industry sales activity.” AUM increased 2.2% in the quarter and 7.1% from the previous year. Investors Group accounted for $88.8 billion of AUM, up 5.5% from June 30, 2017. Mackenzie’s AUM was $67 billion, compared to $60.4 billion a year earlier. Mutual funds made up $56.8 billion while ETF assets were $2.6 billion. ETF net creations for the second quarter were $570 million, including Mackenzie mutual fund investments in ETFs of $153 million, the company reported. GMP reports capital markets growth GMP Capital Inc. reported net income of $0.5 million for the second quarter of 2018, an improvement over a $54.2-million net income loss in Q2 2017 due to a goodwill impairment charge. On an adjusted basis, the firm’s net income of $4 million increased from $1.6 million the previous year. Read: Investment risks for the second half of 2018 In its results reported Friday, revenues decreased 1% to $43.8 million, from $44.4 million in Q2 2017. “There are two things we are particularly proud of in second quarter 2018: our Canadian capital markets business grew revenue by 15% led by improved origination activity in cannabis and mining, and our wealth management continues to deliver solid profitability while growing client assets,” said Harris Fricker, GMP’s president and CEO, in a release. The wealth management division reported $1.7 million in income before taxes, compared to $0.8 million in the second quarter of 2017. Richardson GMP reported assets under administration of $30.2 billion, a 2% increase from the previous year. Staff The staff of Advisor.ca have been covering news for financial advisors since 1998. Save Stroke 1 Print Group 8 Share LI logo