CI Financial reports assets and sales for October


    TSX Symbol: CIX.UN

    TORONTO, Nov. 1 /CNW/ - CI Financial Income Fund ("CI") today reported
assets under management of $69.0 billion and fee-earning assets of
$97.0 billion as of October 31, 2007, representing increases over a year ago
of 15% and 24%, respectively.
    For the month, CI reported gross sales of $849 million and net sales of
$179 million. For the year-to-date, gross sales were $9.7 billion and net
sales were $1.8 billion. In October, CI Investments Inc. had gross sales of
$758 million and net sales of $175 million, while United Financial Corporation
reported gross sales of $91 million and net sales of $4 million.
    "October was an excellent month for asset growth and sales, as global
markets continued to rebound from their lows reached in August," said
President Stephen A. MacPhail. "CI is well positioned for a strong finish to
another successful year."
    CI's assets under management at October 31, 2007 consisted of investment
fund assets at CI Investments and United Financial of $65.1 billion,
structured product assets of $724 million and institutional assets at KBSH
Capital Management Inc. of $3.2 billion. CI also reported administered and
other assets of $28.0 billion, which included $16.5 billion in assets under
administration at Assante Wealth Management (Canada) Ltd. (net of assets under
management at United Financial), and assets under administration at Blackmont
Capital Inc. of $9.4 billion.
    During October, United Financial launched corporate class versions of its
existing United Pools, enhancing the tax efficiency of the Optima Strategy and
Private Client Managed Portfolios programs, which offer customized investment
management solutions to affluent clients.
    In addition, CI Investments launched T-Class, a tax-efficient cash flow
solution that's available on 29 CI mutual funds. T-Class makes monthly
payments in the form of non-taxable return of capital and is designed for
investors in non-registered accounts.
    In other news, Morningstar Canada announced its "Fund Analyst Picks," a
list of its analysts' favourite funds across all categories. Of the 66 funds
currently on the list, CI Investments has 10, more than any other fund
company. In addition, Morningstar said CI continues to lead the industry with
the most mutual and segregated funds with its top five-star rating at
September 30, 2007, with 36.
    Additional information about CI's sales, assets and financial position
can be found below in the tables of preliminary statistics and on its website
in the Statistics section.-------------------------------------------------------------------------
                           CI FINANCIAL INCOME FUND
                               October 31, 2007
                             MONTH-END STATISTICS
    -------------------------------------------------------------------------
    MONTHLY SALES DATA                  GROSS SALES  REDEMPTIONS   NET SALES
                                         (millions)   (millions)   (millions)
    -------------------------------------------------------------------------
    CI funds excluding MMF                    $646         $515         $131
    CI money market                            112           68           44
    -------------------------------------------------------------------------
    TOTAL CI Investments                      $758         $583         $175
    -------------------------------------------------------------------------
    TOTAL United Financial                     $91          $87           $4
    -------------------------------------------------------------------------
    TOTAL CI                                  $849         $670         $179
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    FEE-EARNING ASSETS                    September     October
                                            30/07        31/07
                                         (millions)   (millions)    % Change
    -------------------------------------------------------------------------
    CI mutual/segregated funds             $55,050      $55,449         0.7%
    United Financial funds                   9,715        9,619        -1.0%
    -------------------------------------------------------------------------
                                           $64,765      $65,068         0.5%
    -------------------------------------------------------------------------
    Structured products                        727          724        -0.4%
    -------------------------------------------------------------------------
    TOTAL retail assets under management   $65,492      $65,792         0.5%
    -------------------------------------------------------------------------
    Institutional managed assets             3,200        3,250         1.6%
    -------------------------------------------------------------------------
    TOTAL assets under management          $68,692      $69,042         0.5%
    -------------------------------------------------------------------------
    CI administered/other assets             1,703        1,699        -0.2%
    -------------------------------------------------------------------------
    Assante assets under administration
     (net of United funds)                  16,528       16,528         0.0%
    -------------------------------------------------------------------------
    Blackmont assets under administration    9,359        9,764         4.3%
    -------------------------------------------------------------------------
    TOTAL FEE-EARNING ASSETS               $96,282      $97,033         0.8%
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    AVERAGE RETAIL ASSETS                 September     October
     UNDER MANAGEMENT                       30/07        31/07
                                         (millions)   (millions)    % Change
    -------------------------------------------------------------------------
    Monthly                                $64,961      $65,388         0.7%
    Quarter-to-date                        $65,244      $65,388         0.2%
    Fiscal year-to-date                    $65,117      $65,145         0.0%
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
    FISCAL AVERAGE RETAIL ASSETS         Fiscal 2006
     UNDER MANAGEMENT                      (Dec.)     Fiscal 2007
                                         (millions)   (millions)    % Change
    -------------------------------------------------------------------------
    Fiscal year average retail assets      $58,735      $65,145        10.9%
    -------------------------------------------------------------------------


    -------------------------------------------------------------------------
                                   FINANCIAL POSITION
    EQUITY                         (millions unless otherwise indicated)
    -------------------------------------------------------------------------
    LP units       146,834,835     Bank debt                            $829
    Trust units    139,317,499     Cash & marketable securities          (52)
    Total                          ------------------------------------------
     outstanding                   Net debt outstanding                 $777
     units         286,152,334     ------------------------------------------
    Quarter-                       Net debt to annualized EBITDA
     to-date                        (most recent quarter)             0.99:1
     weighted                      ------------------------------------------
     average units                 In-the-money equity comp.
     outstanding   285,303,799      liability (net of tax)               $21
    Yield at                       Terminal redemption value
     $28.43               8.0%      of funds                            $783
    In-the-money                   Quarter-to-date equity-based
     options         2,891,302       compensation(*)                      $6
    Percentage of
     all options           91%
    All options
     % of units           1.1%
    -------------------------------------------------------------------------
    (*)Based on marked-to-market pre-tax equity-based compensation expense
    accrual from change in unit price and vesting from last quarter-end
    ($26.40) to October 31, 2007 ($28.43).


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    GEOGRAPHIC EXPOSURE OF AUM
    -------------------------------------------------------------------------
    Canada                          48%   Asia                            4%
    -------------------------------------------------------------------------
    United States                   22%   Other                           3%
    -------------------------------------------------------------------------
    Europe                          12%   Cash                           11%
    -------------------------------------------------------------------------CI Financial Income Fund (TSX: CIX.UN) 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.ci.com/cix.

    EBITDA (earnings before interest, taxes, depreciation and amortization)
is a non-GAAP (generally accepted accounting principles) earnings measure that
does not have any standardized meaning prescribed by GAAP. It is therefore
unlikely to be comparable to similar measures presented by other companies.
However, management believes that most unitholders, creditors, other
stakeholders and investment analysts prefer to include the use of this
performance measure in analyzing CI's results.

    This press release contains forward-looking statements with respect to CI
and its products and services, including its business operations and strategy
and financial performance and condition. Although management believes that the
expectations reflected in such forward-looking statements are reasonable, such
statements involve risks and uncertainties. Actual results may differ
materially from those expressed or implied by such forward-looking statements.
Factors that could cause actual results to differ materially from expectations
include, among other things, general economic and market factors, including
interest rates, business competition, changes in government regulations or in
tax laws, and other factors discussed in materials filed with applicable
securities regulatory authorities from time to time.




For further information: Stephen A. MacPhail, President, (416) 364-1145