Equity Troubles Weigh on IGM Financial Despite Asset Growth
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Continued equity and credit market headwinds will offset more recent results for IGM Financial.
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IGM saw CAD 218.8 billion in AUM, down 3.3% sequentially but up 4.8% year over year.
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Consolidated net outflows of CAD 1.1 billion reflect negative organic AUM growth.
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While total revenue increased 3.0% year over year, pretax operating margins fell another 210 basis points.
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The author(s) do not own shares in any securities mentioned in the article.