CI Financial reports asset growth of 22%

TSX Symbol: CIX

TORONTO, July 3, 2014 /CNW/ - CI Financial Corp. ("CI") today reported assets under management at June 30, 2014 of $99.9 billion and total assets of $128.9 billion.

CI's assets under management grew by $18.2 billion or 22.3% year over year and were up $1.6 billion or 1.7% in the month of June, for the 12th consecutive month of asset growth. Total assets were up $22.8 billion or 21.5% for the year and $2.0 billion or 1.6% in June. Assets under management and total assets at June 30 represented new month-end records for CI.

Average assets under management for the quarter ending June 30, 2014 were $97.9 billion, an increase of $4.4 billion or 4.7% over the average for the first quarter of 2014 and an increase of $14.6 billion or 17.5% over the average for fiscal 2013.

CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $29.0 billion at June 30, 2014, an increase of 18.9% year over year.

"CI achieved a new milestone earlier in June when we reached $100 billion in assets under management, an accomplishment driven by continued strong performance and net sales," said Stephen A. MacPhail, CI President and Chief Executive Officer.

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.
June 30, 2014
PRELIMINARY MONTH-END STATISTICS
ENDING ASSETS June 30/14
(millions)
May 31/14
(millions)
%
Change
June 30/13
(millions)
%
Change
Assets under management $99,882 $98,236 1.7% $81,650 22.3%
Assets under administration* 28,968 28,606 1.3% 24,368 18.9%
TOTAL $128,850 $126,842 1.6% $106,018 21.5%

MONTHLY AVERAGE
ASSETS UNDER MANAGEMENT
June 30/14
(millions)
May 31/14
(millions)
%
Change
Monthly average $99,589 $97,498 2.1%


FISCAL QUARTER AVERAGE
ASSETS UNDER MANAGEMENT
Ending June 30/14
(millions)
Ending Mar. 31/14
(millions)
%
Change
Fiscal quarter average $97,895 $93,488 4.7%

FISCAL YEAR AVERAGE
ASSETS UNDER MANAGEMENT
Ending June 30/14
(millions)
Fiscal 2013
(millions)
%
Change
Fiscal year average $95,704 $83,325 14.9%

EQUITY FINANCIAL POSITION
(millions)
Total outstanding shares 284,423,806 Debt outstanding $500
QTD weighted avg. shares 284,542,521 Net debt outstanding $255
Current Yield 3.4%    
Potential share dilution from options 1,052,572 Terminal redemption value of funds $754
All options % of shares 2.0%    

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

ESTIMATED GEOGRAPHIC EXPOSURE OF AUM
Canada 43% Asia 4%
United States 28% Other 5%
Europe 15% 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 Corp.
(416) 364-1145