Q2 2025 IGM Financial Inc Earnings Call Transcript
Key Points
- IGM Financial Inc (IGIFF) reported a record high adjusted EPS of $1.07 for the second quarter, marking a 15% year-over-year growth.
- The company achieved a record high adjusted EPS of $4.15 over the last four quarters, despite market volatility.
- IG Wealth Management ended the quarter with record AUM&A of $146.7 billion, up 13% year-over-year.
- Mackenzie Investments reported record high AUM of $224.6 billion, with significant improvements in retail net sales.
- The fair value of IGM Financial Inc (IGIFF)'s investment in Wealthsimple increased by 21%, now valued at $1.5 billion.
- Despite strong performance, IGM Financial Inc (IGIFF) has not yet received earnings contributions from its investments in Wealthsimple and Rockefeller Capital Management.
- The company experienced net redemptions of $135 million in Mackenzie Investments during the quarter.
- IGM Financial Inc (IGIFF) noted that the current share price does not adequately reflect the company's strength, indicating potential undervaluation.
- The advisory fee rate at IG Wealth Management is expected to decrease as clients move up wealth tiers.
- Rockefeller Capital Management's earnings are not yet positive, although improvement is expected in the second half of the year.
Thank you for standing by. This is the conference operator. Welcome to the IGM Financial second-quarter 2025 analyst call and webcast. (Operator Instructions)
I would now like to turn the conference over to Kyle Martens, senior Vice President, Corporate Development and Investor Relations. Please go ahead.
Thank you Gaylene. Good morning, everyone, and thank you for joining us. On the call today, we have James O'Sullivan, President and CEO of IGM Financial; Damon Murchison, President and CEO of IG Wealth Management; Luke Gould, President and CEO of Mackenzie Investments; and Keith Potter, Executive Vice President and CFO of IGM Financial.
Before we get started, I would like to draw your attention to our cautions concerning forward-looking statements on slide 3 of the presentation. Slides 4 and 5 summarize non IFRS financial measures and other financial measures used in this material.
And on slide 6 we provide a list of documents that are available on
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