TORONTO, Jan. 3, 2008 (Canada NewsWire via COMTEX) -- Mackenzie Financial Corporation (Mackenzie Investments), part of IGM Financial Inc. (TSX:IGM), today announced preliminary total assets under management of $61.3 billion at December 31, 2007, down 0.5% from the prior year. Mackenzie Investments also reported preliminary gross mutual fund sales and mutual fund net new money for December 2007 were $593.1 million and $(65.6) million, respectively.
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Further information can be found below in the tables of unaudited month-
end data:
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Total Assets Under Management 2007 2006
(AUM) ($millions) December December % Change
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Mutual Funds:
-------------------------------------------------------------------------
Long-term mutual funds $44,640 $44,732 (0.2)%
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Money market mutual funds 1,832 1,761 4.0%
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Total Mutual Funds AUM 46,472 46,493 (0.0)%
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Institutional, sub-advised and
other 14,806 15,085 (1.8)%
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Total Assets Under Management $61,278 $61,578 (0.5)%
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Sales 2007
($millions) December
------------------------------------------------------------------------- Net New
Mutual Funds: Sales Redemptions Money*
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Long-term mutual funds $420.1 $556.2 $(136.1)
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Money market mutual funds 173.0 102.5 70.5
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Total Mutual Fund Sales 593.1 658.7 (65.6)
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Other retail managed products 0.0 12.5 (12.5)
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Total Fund Sales $593.1 $671.2 $(78.1)
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*Net New Money is defined as Sales less Redemptions and is consistent
with the terminology now used by IFIC.>>
Additional information about Mackenzie Investments' assets and fund flows will be available on the Investment Funds Institute of Canada's website (www.ific.ca) on approximately the 15th of each month as part of a Canadian industry-wide release of monthly statistics.
Mackenzie Investments: Mackenzie Investments was founded in 1967, and is a leading investment management firm providing investment advisory and related services. With $61.3 billion in assets under management, Mackenzie Investments distributes its services through a diversified network of third-party financial advisors. Mackenzie Investments is a member of the IGM Financial Inc. (TSX: IGM: 58.32, -0.16, -0.27%) group of companies. IGM Financial is one of Canada's premier financial services companies with $121 billion in total assets under management.
SOURCE: Mackenzie Investments
Catharine Marion, Environics Communications Inc., (416) 969-2809,
cmarion@environicspr.com
http://www.foxbusiness.com/markets/industries/finance/article/mackenzie-investments-reports-total-assets-management-fund-sales-december_422828_9.html
Thursday, January 3, 2008
Canadian General Investments: Investment Update-Unaudited
TORONTO, CANADA, Jan 3, 2008 (Marketwire via COMTEX) -- Canadian General Investments, Limited (CGI: 36.15, +0.12, +0.33%) (TSX:CGI)(TSX:CGI.PR.A)(TSX:CGI.PR.B)(TSX:CGI.PR.C)(LSE:CGI) reports on an unaudited basis that its net asset value per share (NAV) at December 31, 2007 was $31.89, resulting in a one-year NAV return with dividends reinvested of 7.2% . This compares with the 9.8% return of the benchmark S&P/TSX Composite Index on a total return basis for the same period.
The closing price for CGI's common shares at December 31, 2007 was $28.30, resulting in an annual market return, with dividends reinvested, of 9.5% .
CGI paid regular cash dividends of $0.24 and a special cash capital gains dividend of $1.36 per common share in 2007, representing a yield of 5.65% on the year-end closing market price.
The sector weightings of CGI's investment portfolio at market as of December 31, 2007 were as follows:
Financials 21.3%
Materials 21.2%
Energy 19.9%
Industrials 12.7%
Consumer Discretionary 8.0%
Information Technology 7.0%
Telecommunication Services 3.8%
Consumer Staples 2.8%
Utilities 1.6%
Cash & Cash Equivalents 0.9%
Health Care 0.8%
The top ten investments, which comprised 23.9% of the investment portfolio at market, excluding non-convertible preferred shares, as of December 31, 2007 were as follows:
Research In Motion Limited 4.0%
Urbana Corporation 3.2%
Rogers Communications Inc. 2.6%
TSX Group Inc. 2.3%
Cameco Corporation 2.2%
Labrador Iron Ore Royalty Income Fund 2.1%
BPO Properties Ltd. 2.0%
BMTC Group Inc. 1.9%
Canadian Western Bank 1.9%
Algoma Central Corporation 1.7%
SOURCE: Canadian General Investments, Limited
Canadian General Investments, Limited
Jonathan A. Morgan
President and CEO
(416) 366-2931
(416) 366-2729 (FAX: 5.92, +0.04, +0.67%)
Email: cgifund@mmainvestments.com
Website: www.mmainvestments.com
http://www.foxbusiness.com/markets/industries/finance/article/canadian-general-investments-investment-updateunaudited_423469_9.html
The closing price for CGI's common shares at December 31, 2007 was $28.30, resulting in an annual market return, with dividends reinvested, of 9.5% .
CGI paid regular cash dividends of $0.24 and a special cash capital gains dividend of $1.36 per common share in 2007, representing a yield of 5.65% on the year-end closing market price.
The sector weightings of CGI's investment portfolio at market as of December 31, 2007 were as follows:
Financials 21.3%
Materials 21.2%
Energy 19.9%
Industrials 12.7%
Consumer Discretionary 8.0%
Information Technology 7.0%
Telecommunication Services 3.8%
Consumer Staples 2.8%
Utilities 1.6%
Cash & Cash Equivalents 0.9%
Health Care 0.8%
The top ten investments, which comprised 23.9% of the investment portfolio at market, excluding non-convertible preferred shares, as of December 31, 2007 were as follows:
Research In Motion Limited 4.0%
Urbana Corporation 3.2%
Rogers Communications Inc. 2.6%
TSX Group Inc. 2.3%
Cameco Corporation 2.2%
Labrador Iron Ore Royalty Income Fund 2.1%
BPO Properties Ltd. 2.0%
BMTC Group Inc. 1.9%
Canadian Western Bank 1.9%
Algoma Central Corporation 1.7%
SOURCE: Canadian General Investments, Limited
Canadian General Investments, Limited
Jonathan A. Morgan
President and CEO
(416) 366-2931
(416) 366-2729 (FAX: 5.92, +0.04, +0.67%)
Email: cgifund@mmainvestments.com
Website: www.mmainvestments.com
http://www.foxbusiness.com/markets/industries/finance/article/canadian-general-investments-investment-updateunaudited_423469_9.html
Nuveen Investments Announces Updated Estimates of Realized Long-Term Capital Gains Retained by Certain Closed-End Funds
Nuveen Investments, a leading provider of diversified investment services, today announced the Nuveen Real Estate Income Fund (AMEX: JRS), Nuveen Diversified Dividend and Income Fund (NYSE: JDD: 14.28, -0.02, -0.13%), Nuveen Tax-Advantaged Total Return Strategy Fund (NYSE: JTA: 21.89, +0.06, +0.27%), Nuveen Global Value Opportunities Fund (NYSE: JGV: 18.96, +0.50, +2.70%), and Nuveen Multi-Currency Short-Term Government Income Fund (NYSE: JGT: 17.68, +0.33, +1.90%) have each accrued estimated tax liabilities as of December 27, 2007, in connection with its retention of realized long-term capital gains at year-end, in the amounts provided below. As a result, the funds' NAVs were reduced on that day. These accruals reflect the Federal income taxes the funds are required to pay in early 2008 in order to retain a portion of their realized long-term capital gains for the tax year ending December 31, 2007, instead of paying them out in 2007 as capital gain distributions.
Retaining realized long-term gains enables a fund to better preserve and grow its capital base for long-term investors. This increases earnings potential over time, providing the opportunity for more stable, growing distributions and a higher share price.
Per share estimates of the funds' retained long-term capital gains and corresponding Federal corporate income taxes accrued are as follows:
Per Share JRS JDD JTA JGV JGT
----------------------------------------------------------------------
Long-Term Capital Gain Retained
(est.) $3.34 $0.79 $0.64 $0.81 $0.41
----------------------------------------------------------------------
Federal Income Taxes Accrued by
Fund (1.17) (0.28) (0.22) (0.28) (0.14)
----------------------------------------------------------------------
Net Long-Term Capital Gain Retained $2.17 $0.51 $0.42 $0.53 $0.27
----------------------------------------------------------------------
The estimates of the long-term gains to be retained are updated from those announced in a press release dated December 15, 2007.
Final amounts for the retained gains and taxes paid will be reported to shareholders on IRS Form 2439, which investors who hold shares in "street name" should receive from their brokerage firm by March 31, 2008. Investors who own shares directly through the funds' transfer agent will receive Form 2439 in mid-February. These gains will not be reported on Form 1099-DIV, which will only reflect realized capital gains actually distributed to shareholders and taxable in 2007. Shareholders who hold the affected funds in a taxable account should wait to file their tax returns until both Forms 2439 and 1099-DIV are received, and should not base their tax filing on the estimated amounts set forth in this announcement. Shareholders of the funds held in a qualified non-taxable account (for example, an IRA or 401(k) account) are entitled to a refund of the taxes paid by each fund; the account's custodian is responsible for facilitating this refund. More details about these funds, as well as additional information on retained capital gains and related tax information are available on www.nuveen.com/taxinfo.
Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutions and high-net-worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high-quality brands of NWQ, Santa Barbara, Tradewinds, Rittenhouse, Symphony and Nuveen, including the Nuveen HydePark Group. In total, the Company managed $170 billion in assets as of September 30, 2007. For more information, please visit the Nuveen Investments website at www.nuveen.com.
http://www.foxbusiness.com/markets/industries/finance/article/nuveen-investments-announces-updated-estimates-realized-longterm-capital-gains_423572_9.html
Retaining realized long-term gains enables a fund to better preserve and grow its capital base for long-term investors. This increases earnings potential over time, providing the opportunity for more stable, growing distributions and a higher share price.
Per share estimates of the funds' retained long-term capital gains and corresponding Federal corporate income taxes accrued are as follows:
Per Share JRS JDD JTA JGV JGT
----------------------------------------------------------------------
Long-Term Capital Gain Retained
(est.) $3.34 $0.79 $0.64 $0.81 $0.41
----------------------------------------------------------------------
Federal Income Taxes Accrued by
Fund (1.17) (0.28) (0.22) (0.28) (0.14)
----------------------------------------------------------------------
Net Long-Term Capital Gain Retained $2.17 $0.51 $0.42 $0.53 $0.27
----------------------------------------------------------------------
The estimates of the long-term gains to be retained are updated from those announced in a press release dated December 15, 2007.
Final amounts for the retained gains and taxes paid will be reported to shareholders on IRS Form 2439, which investors who hold shares in "street name" should receive from their brokerage firm by March 31, 2008. Investors who own shares directly through the funds' transfer agent will receive Form 2439 in mid-February. These gains will not be reported on Form 1099-DIV, which will only reflect realized capital gains actually distributed to shareholders and taxable in 2007. Shareholders who hold the affected funds in a taxable account should wait to file their tax returns until both Forms 2439 and 1099-DIV are received, and should not base their tax filing on the estimated amounts set forth in this announcement. Shareholders of the funds held in a qualified non-taxable account (for example, an IRA or 401(k) account) are entitled to a refund of the taxes paid by each fund; the account's custodian is responsible for facilitating this refund. More details about these funds, as well as additional information on retained capital gains and related tax information are available on www.nuveen.com/taxinfo.
Nuveen Investments provides high-quality investment services designed to help secure the long-term goals of institutions and high-net-worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high-quality brands of NWQ, Santa Barbara, Tradewinds, Rittenhouse, Symphony and Nuveen, including the Nuveen HydePark Group. In total, the Company managed $170 billion in assets as of September 30, 2007. For more information, please visit the Nuveen Investments website at www.nuveen.com.
http://www.foxbusiness.com/markets/industries/finance/article/nuveen-investments-announces-updated-estimates-realized-longterm-capital-gains_423572_9.html
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