IGM: Momentum continues; WS in focus this quarter

Research evidence excerpt

IGM: Momentum continues; WS in focus this quarter

IGM Financial Inc.

Company description

IGM Financial is one of Canada’s largest mutual fund companies and also manages assets on behalf of institutional and high-net-

worth clients. IGM’s two primary divisions are: (1) IG Wealth Management, which offers personal financial planning and wealth

management services exclusively through a network of more than 3,000 advisors across Canada; and (2) Mackenzie Financial,

which offers mutual funds and other financial products through third-party financial advisors. IGM also owns a ~2.4% stake in

Great-West Life (TSX: GWO) and is entering the U.S. Wealth Management industry with its recent minority equity investment of

~20.5% in Rockefeller Capital Management ("RCM").

Required disclosures

Non-U.S. analyst disclosure

One or more research analysts involved in the preparation of this report (i) may not be registered/qualified as research analysts

with the NYSE and/or FINRA and (ii) may not be associated persons of the RBC Capital Markets, LLC and therefore may not be

subject to FINRA Rule 2241 restrictions on communications with a subject company, public appearances and trading securities

held by a research analyst account.

Conflicts disclosures

The analyst(s) responsible for preparing this research report received compensation that is based upon various factors, including

total revenues of the member companies of RBC Capital Markets and its affiliates, a portion of which are or have been generated

by investment banking activities of the member companies of RBC Capital Markets and its affiliates.

With regard to the MAR investment recommendation requirements in relation to relevant securities, a member company of Royal