CI Financial reports assets under management

TSX Symbol: CIX

TORONTO, April 4 /CNW/ -  CI Financial Corp. ("CI") today reported assets under management at March 31, 2011 of $75.4 billion.

This represents an increase of $9.8 billion or 14.9% from March 31, 2010 and an increase of 0.3% for the month of March 2011. It was the seventh consecutive month of asset growth and represents a new month-end record for CI's assets under management.

CI's average assets under management for the first quarter of 2011 were $74.1 billion, an increase of $4.8 billion or 6.9% from the average for the previous quarter and increase of $8.4 billion or 12.8% over the average for the fiscal year 2010.

CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $23.5 billion. CI's total assets at March 31, 2011 were $98.9 billion, an increase of 13.2% for the year and 0.4% for the month.

CI expects to release its financial results for the quarter ending March 31, 2011 on May 10, 2011.

Additional information about CI's assets and financial position can be found below in the tables of preliminary statistics and on its website, www.ci.com/cix, 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.
March 31, 2011
MONTH-END STATISTICS


ENDING ASSETS

March 31/11
(millions)
Feb. 28/11
(millions)
%
Change
March 31/10
(millions)
%
Change
Assets under management $75,443 $75,234 0.3% $65,684 14.9%
Assets under administration* 23,466 23,324 0.6% 21,687 8.2%
TOTAL $98,909 $98,558 0.4% $87,371 13.2%

MONTHLY AVERAGE
ASSETS UNDER MANAGEMENT
March 31/11
(millions)
Feb. 28/11
(millions)
%
Change
Monthly average $74,573 $74,792 -0.3%

QUARTERLY AVERAGE ASSETS
UNDER MANAGEMENT
March 31/11
(millions)
Dec. 31/10
(millions)
%
Change
Quarterly average $74,113 $69,297 6.9%

FISCAL AVERAGE
ASSETS UNDER MANAGEMENT
Fiscal 2011
(millions)
Fiscal 2010
(millions)
%
Change
Fiscal year average $74,113 $65,719 12.8%

EQUITY FINANCIAL POSITION
(millions)       
Total outstanding shares 288,020,070 Debt Outstanding $850
QTD weighted avg. shares 287,832,282 Cash and marketable securities (161)
Yield at $23.05 3.9% Net debt outstanding $689
In-the-money options 6,794,776    
Percentage of all options 99% Terminal redemption value of funds $796
All options % of shares 2.4%    

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

ESTIMATED GEOGRAPHIC EXPOSURE OF AUM
Canada      52% Asia        3%
United States       23% Other        4%
Europe       10% Cash        8%

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.ci.com/cix.

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.

 

 

 

 

SOURCE CI Investments Inc.

For further information:

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


FORFAITS PERSONNALISÉS

Jetez un coup d’œil sur nos forfaits personnalisés ou créez le vôtre selon vos besoins de communication particuliers.

Commencez dès aujourd'hui .

ADHÉSION À CNW

Remplissez un formulaire d'adhésion à CNW ou communiquez avec nous au 1-877-269-7890.

RENSEIGNEZ-VOUS SUR LES SERVICES DE CNW

Demandez plus d'informations sur les produits et services de CNW ou communiquez avec nous au 1‑877-269-7890.