CI Financial reports assets under management

TSX Symbol: CIX

TORONTO, Dec. 3, 2012 /CNW/ - CI Financial Corp. ("CI") today reported assets under management of $74.6 billion and total assets of $97.4 billion as of November 30, 2012.

Assets under management rose by 0.6% in the month of November, for the fifth consecutive month of growth. On a year-over-year basis, assets under management rose by $4.5 billion or 6.4%. In comparison, the S&P/TSX Composite Index declined 1.3% in November and is up 3.4% over the 12-month period.

Assets under management at November 30, 2012 of $74.6 billion represented an increase of $2.2 billion or 3.0% over the average assets under management for the third quarter of 2012 and an increase of $2.5 billion or 3.4% over the average for fiscal 2011.

CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $22.7 billion at November 30, 2012, an increase of 0.1% for the month and 5.0% year over year.

During November, CI Investments Inc. was appointed sub-advisor to Scotia U.S. Dividend Fund, a new mandate offered by Scotia Asset Management. The portfolio manager is Alan Radlo, Chief Investment Officer of CI's Cambridge Advisors. In addition, Scotia Asset Management announced that CI funds would be included in several new fund-of-funds products, including the Scotia Selected Income Portfolio.

Also in November, CI Investments was the winner of two Morningstar Canadian Investment Awards, with Portfolio Series being named Best Fund of Funds for the second consecutive year and Signature High Income Fund chosen as Best Global Balanced Fund, making it a four-time winner at the awards.

Additional information about CI's assets and financial position can be found below in the tables of preliminary statistics and on its website, www.cifinancial.com, in the Statistics section. These are the only statistics authorized by CI and CI takes no responsibility for reporting by any external sources.

CI FINANCIAL CORP.
November 30, 2012
PRELIMINARY MONTH-END STATISTICS

ENDING ASSETS

Nov 30/12
(millions)
Oct 31/12
(millions)
%
Change
Nov 30/11
(millions)
%
Change
Assets under management $74,641 $74,224 0.6% $70,127 6.4%
Assets under administration* 22,741 22,718 0.1% 21,652 5.0%
TOTAL $97,382 $96,942 0.5% $91,779 6.1%

MONTHLY AVERAGE
ASSETS UNDER MANAGEMENT
Nov 30/12
(millions)
Oct 31/12
(millions)
%
Change
Monthly average $73,798 $74,024 -0.3%

FISCAL QUARTER AVERAGE
ASSETS UNDER MANAGEMENT
Ending Nov 30/12
(millions)
Ending Sep 30/12
(millions)
%
Change
Fiscal quarter average $73,913 $72,437 2.0%

FISCAL YEAR AVERAGE
ASSETS UNDER MANAGEMENT
Fiscal 2012
(millions)
Fiscal 2011
(millions)
%
Change
Fiscal year average $72,373 $72,186 0.3%

EQUITY FINANCIAL POSITION
(millions)
Total outstanding shares
QTD weighted avg. shares
Current Yield
Potential share dilution from options
All options % of shares
 
282,878,922
283,039,022
4.0%
970,762
2.3%
 
Debt outstanding
Net debt outstanding

Terminal redemption value of funds
 
 
$750
$544

$787
 
 

* Includes CI and United Financial funds administered by Assante advisors.

ESTIMATED GEOGRAPHIC EXPOSURE OF AUM
Canada 49% Asia  4%
United States 28% Other  5%
Europe 10% Cash 4%

CI Financial Corp. (TSX: CIX) is an independent, Canadian-owned wealth management company. CI offers a broad range of investment products and services, including an industry-leading selection of investment funds. CI is on the Web at www.cifinancial.com.

 

SOURCE: CI Investments Inc.

For further information:

Stephen A. MacPhail
President and Chief Executive Officer
CI Financial
(416) 364-1145