IGM Financial Inc. yesterday reported a 15% increase in third quarter profit, helped by strong financial markets and a rebound in resmutual fund sales.

Net income for the quarter ended Sept. 30, 2005 was $176.6 million, or 66¢ a share, up from $153.8 million, or 58¢ a share, in the year-before period.

IGM said revenue rose 11.4% to $587 million from $527.1 million. However, that was partially offset by an 11.8% rise in operating expenses.

Mutual fund assets were $91 billion at the end of the quarter, up from $78.6 billion a year earlier, boosted by strong fund sales.

For IGM’s Investors Group operations, mutual fund sales for the third quarter were $1.21 billion compared to $1 billion in the prior year.

“Our Consultant network has grown in each of the last five quarters,” said Murray Taylor, president and CEO of Investors Group Inc. “A 99% increase in year to date mutual fund net sales over 2004 combined with strong investment performance has resulted in record levels of assets under management.”

IGM’s Mackenzie Financial operations recorded mutual fund sales of $1.7 billion for the third quarter compared to $1.4 billion for the same quarter last year. Mutual fund net sales were $110 million for the third quarter in both 2005 and 2004. Net sales of long-term funds (excluding money market and managed yield funds) were $85 million for the quarter, compared with $133 million in 2004.