TORONTO, ONTARIO -- (MARKET WIRE) -- 08/01/08 -- Counsel Group of Funds Inc. a division of Investment Planning Counsel, Inc. today reported preliminary mutual fund assets under management and sales for the month ending July 31, 2008 as follows:Mutual fund assets under management were $2.09-billion at July 31, 2008, compared to $2.30 billion at July 31, 2007.
----------------------------------------------------------------------------Mutual Fund Sales - Month July 2008 July 2007----------------------------------------------------------------------------$ millions (unaudited) Sales Redemptions Net New Money Net New Money (i) (i)----------------------------------------------------------------------------Long Term 17.4 24.6 (7.2) 14.0Money Market 3.1 2.4 0.7 2.7 ----------------------------------------------------Total 20.5 27.0 (6.5) 16.7--------------------------------------------------------------------------------------------------------------------------------------------------------Mutual Fund Sales - YTD July 2008 July 2007----------------------------------------------------------------------------$ millions (unaudited) Sales Redemptions Net New Money Net New Money (i) (i)----------------------------------------------------------------------------Long Term 142.1 182.4 (40.3) 109.2Money Market 24.9 12.9 12.0 13.4 ----------------------------------------------------Total 167.0 195.3 (28.3) 122.6----------------------------------------------------------------------------
(i) Net New Money is defined as Sales less Redemptions and is consistent with the terminology used by The Investment Funds Institute of Canada (IFIC).
Additional information about Counsel mutual fund assets and fund flows will be available on the Investment Funds Institute of Canada (IFIC) web site (www.ific.ca) on approximately the 15th of each month as part of a Canadian industry-wide release of monthly statistics.
Investment Planning Counsel is an integrated wealth management company focused on providing Canadians with financial products, services and advice to help them achieve their financial dreams. Investment Planning Counsel has developed a strategy that marries the needs of the planners with that of the company. Investment Planning Counsel's intent is to be the premier choice among financial planners who are dedicated to serving the needs of their clients. Investment Planning Counsel is a member of the IGM Financial Inc. (TSX: IGM) group of companies.
Contacts:
Investment Planning Counsel
Steve Meehan
Chief Executive Officer
(905) 212-9799
(905) 212-9675 (FAX)
Email: smeehan@ipcfn.com
Website: www.ific.ca
