CI Financial reports a record high in assets under management

TSX Symbol: CIX

TORONTO, March 1, 2013 /CNW/ - CI Financial Corp. ("CI") today reported assets under management as of February 28, 2013 of $79.8 billion, a new record for the company. Total assets were $103.9 billion.

CI's assets under management gained $1.7 billion or 2.2% in the month of February and rose $6.6 billion or 9.0% year over year. In comparison, the S&P/TSX Composite Total Return Index gained 1.3% in February and 4.6% over the 12-month period.

Assets under management at February 28, 2013 of $79.8 billion represented an increase of $5.5 billion or 7.4% over the average assets under management for the fourth quarter of 2012 and an increase of $7.2 billion or 10.0% over the average for fiscal year 2012.

CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $24.0 billion at February 28, 2013, an increase of 5.6% year over year.

"February, like January, was very positive for CI," said Stephen A. MacPhail, CI President and Chief Executive Officer. "Our assets under management are now approximately $80 billion, an all-time high for CI and up over 5% since December 31, 2012. Our average assets for the first two months of the year are up 5% from the average of the prior quarter. Equally encouraging is that CI has continued to post strong sales, with our net sales for the month of February at their highest level since the year 2000. Importantly, this strength is being driven by retail sales channels."

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.
February 28, 2013
PRELIMINARY MONTH-END STATISTICS
ENDING ASSETS Feb 28/13
(millions)
Jan 31/13
(millions)
%
Change
Feb 29/12
(millions)
%
Change
Assets under management $79,843 $78,100 2.2% $73,248 9.0%
Assets under administration* 24,038 23,596 1.9% 22,761 5.6%
TOTAL $103,881 $101,696 2.1% $96,009 8.2%

MONTHLY AVERAGE
ASSETS UNDER MANAGEMENT
Feb 28/13
(millions)
Jan 31/13
(millions)
%
Change
Monthly average $78,823 $77,236 2.1%

FISCAL QUARTER AVERAGE
ASSETS UNDER MANAGEMENT
Ending Feb 28/13
(millions)
Ending Dec 31/12
(millions)
%
Change
Fiscal quarter average $77,989 $74,323 4.9%

FISCAL YEAR AVERAGE
ASSETS UNDER MANAGEMENT
Fiscal 2013
(millions)
Fiscal 2012
(millions)
%
Change
Fiscal year average $77,989 $72,606 7.4%

EQUITY FINANCIAL POSITION
(millions) 
Total outstanding shares 283,197,093 Debt outstanding $608
QTD weighted avg. shares 283,093,660 Net debt outstanding $540
Current Yield 3.8%    
Potential share dilution
from options
1,173,650 Terminal redemption value of funds $775
All options % of shares 2.4%    

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

ESTIMATED GEOGRAPHIC EXPOSURE OF AUM
Canada       48% Asia        4%
United States       29% Other        5%
Europe       11% Cash        3%

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


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