IGM Financial Inc. announced net income for the three months ended March 31 was $210.5 million compared to $185.3 million in 2006. Earnings per share were 79¢ compared to 69¢ in 2006, an increase of 14.5%.

Total assets under management at March 31 totalled $123.4 billion. This compares with total assets under management of $107.2 billion at March 31, 2006, an increase of 15.1%.

Gross revenue for the three months ended March 31 were $720.8 million, compared to $646.3 million in the prior year. Operating expenses were $410.5 million for the quarter, compared to $373.8 million in 2006.

Shareholders’ equity at March 31 was $3.96 billion, compared to $3.82 billion at Dec. 31, 2006. Return on average common equity for the three months ended March 31 was 21.6% compared with 21.3% for the same period in 2006.

IGM Financial subsidiary Investors Group Inc.’s mutual fund AUM at March 31 were $60.2 billion compared to $53.8 billion at March 31, 2006, an increase of 11.8%.

The number of Investors Group consultants was 3,985 at March 31, up from 3,917 at Dec/ 31, 2006. Investors Group has experienced 11 consecutive quarters of growth resulting in an increase of more than 24% in the consultant network since June 30, 2004.

“With close to 4000 Consultants across Canada we continue to see consistent growth in our Consultant network,” said Murray J. Taylor, president and CEO of Investors Group Inc. “Strong client relationships built on our approach to long-term financial planning have resulted in record setting assets under management.”

Mutual fund sales for the first quarter were $2.3 billion compared to $2 billion in the prior year and mutual fund net sales for the first quarter were $1 billion compared to $718 million a year ago.

Investors Group’s 12 month trailing redemption rate (excluding money market funds) was at a record low level of 7.7% at March 31, down from 7.9% at Dec. 31, 2006 and down from 8.5% at March 31, 2006.

Another IGM Financial subsiary, Mackenzie Financial Corp., had total AUM at March 31 of $63.7 billion. This compares with AUM of $53.7 billion at March 31, 2006, an increase of 18.6%. The prior period figure does not include assets from Mackenzie’s acquisition of the Cundill Group. That transaction closed Sept. 22, 2006 and the institutional assets were valued at $3.3 billion at that time. Mutual fund assets under management at March 31, 2007 were $47.8 billion, an increase of 8.8%, compared to $44 billion one year ago.

“Overall asset growth remained strong with assets up 18.6% year over year. Our business continues to benefit from the diversification of our distribution platform by channel, product type and investment objective,” said Charles R. Sims, president and CEO of Mackenzie Financial.

Total sales for the first quarter of 2007 were $3.7 billion compared to $3.9 billion in the prior year. Total net sales for the first quarter were $605 million compared to net sales of $1.3 billion in the prior year.

In related news, IGM Financial’s board of directors declared a quarterly dividend of $0.359375 per share on the company’s 5.75% non-cumulative first preferred shares, series “A” payable on June 30 to shareholders of record on May 31 and has declared a dividend of 42.75¢ per share on the company’s common shares payable on July 27 to shareholders of record on June 25.