Analyst says results could lead to negative earnings revisions around fee income growth in wealth management
The firm reported net income attributable to common shareholders of $151 million in Q1, down 13%
Insurers attribute performance in some areas to higher rates, lower equity markets
Mackenzie's investment fund sales declined
The quarterly results reflect the insurer's medium-term goals, the CEO said
Private equity holdings rose nearly 66%
Strength in Canadian, U.S. retail banking underpinned revenue growth
The bank's AUM of $345 billion represents an 11% increase from last year
The firm's wealth management net income is down by 6% compared to Q1 2021
Net income for the wealth management segment was up 11% year over year