CI Financial reports a new high in assets under management

TSX Symbol: CIX

TORONTO, May 1, 2013 /CNW/ - CI Financial Corp. ("CI") today reported assets under management as of April 30, 2013 of $81.6 billion, an all-time record for the company. Total assets were $105.8 billion.

CI's assets under management grew $1.1 billion or 1.4% in the month of April, for the 11th consecutive month of asset growth, and gained $8.5 billion or 11.6% year over year. In comparison, the S&P/TSX Composite Total Return Index fell 2.1% in April and was up 4.5% over the 12-month period.

Assets under management of $81.6 billion at April 30 represented an increase of $2.8 billion or 3.5% over the average for the first quarter of 2013 and an increase of $9.0 billion or 12.3% over the average for fiscal year 2012.

"2013 continues to be an exceptional year for CI, with record assets under management and gross and net sales showing extraordinary growth," said Stephen A. MacPhail, CI President and Chief Executive Officer. "This strength in sales continued in April, with our year-to-date net sales reaching the highest level in 13 years."

CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $24.2 billion at April 30, 2013, an increase of 6.9% year over year.

CI will report its results for the first quarter of 2013 on Tuesday, May 7, 2013.

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.
April 30, 2013
PRELIMINARY MONTH-END STATISTICS
ENDING ASSETS Apr. 30/13
(millions)
Mar. 31/13
(millions)
%
Change
Apr. 30/12
(millions)
%
Change
Assets under management $81,567 $80,471 1.4% $73,112 11.6%
Assets under administration* 24,238 24,222 0.1% 22,672 6.9%
TOTAL $105,805 $104,693 1.1% $95,784 10.5%

MONTHLY AVERAGE
ASSETS UNDER MANAGEMENT
Apr. 30/13
(millions)
Mar. 31/13
(millions)
%
Change
Monthly average $80,294 $80,372 -0.1%

FISCAL QUARTER AVERAGE
ASSETS UNDER MANAGEMENT
Ending Apr. 30/13
(millions)
Ending Mar. 31/13
(millions)
%
Change
Fiscal quarter average $80,294 $78,810 1.9%

FISCAL YEAR AVERAGE
ASSETS UNDER MANAGEMENT
Ending Apr. 30/13
(millions)
Fiscal 2012
(millions)
%
Change
Fiscal year average $79,181 $72,606 9.1%

EQUITY   FINANCIAL POSITION
(millions)
 
Total outstanding shares 283,323,896 Debt outstanding $568
QTD weighted avg. shares 283,321,051 Net debt outstanding $500
Current Yield 3.6%    
Potential share dilution
from options
1,239,613 Terminal redemption value of funds $773
All options % of shares 2.2%    
       

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

ESTIMATED GEOGRAPHIC EXPOSURE OF AUM
Canada       47% Asia        4%
United States       28% Other        5%
Europe       11% Cash        5%

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, and 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