CI Financial reports continued growth in assets under management

TSX Symbol: CIX

TORONTO, Sept. 4, 2012 /CNW/ - CI Financial Corp. ("CI") today reported assets under management of $72.4 billion and total assets of $94.5 billion as of August 31, 2012.

Assets under management grew by 0.9% for the month of August and increased 2.3% year over year. Average assets under management for the year-to-date at August 31, 2012 were $71.9 billion, compared to an average of $72.2 billion for the 2011 fiscal year.

CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $22.2 billion at August 31, 2012.

In other developments in August, Transamerica Life Canada last week announced that it has selected CI Investments Inc. as sub-advisor for its existing TOP Guaranteed Investment Portfolios program. Under the agreement, Transamerica's TOP Guaranteed Investment Portfolios will be renamed Transamerica CI Guaranteed Investment Portfolios and they will invest in the underlying Transamerica CI Portfolios, which will be designed and managed by CI Investments. The change will take place September 21, 2012.

"Transamerica conducted a very thorough review process and the selection of CI speaks to the high quality and performance across our roster of portfolio management teams and to our experience and expertise in developing and managing asset allocation programs," said Stephen A. MacPhail, CI President and Chief Executive Officer. "This is a significant account and builds on the success we are having in the institutional marketplace."

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.
August 31, 2012
PRELIMINARY MONTH-END STATISTICS
ENDING ASSETS Aug. 31/12
(millions)
July 31/12
(millions)
%
Change
Aug. 31/11
(millions)
%
Change
Assets under management $72,363 $71,685 0.9% $70,719 2.3%
Assets under administration* 22,170 22,037 0.6% 21,918 1.1%
TOTAL $94,533 $93,722 0.9% $92,637 2.1%

MONTHLY AVERAGE
ASSETS UNDER MANAGEMENT
Aug. 31/12
(millions)
July 31/12
(millions)
%
Change
Monthly average $72,389 $71,507 1.2%

QUARTERLY AVERAGE ASSETS
UNDER MANAGEMENT
Aug. 31/12
(millions)
June 30/12
(millions)
%
Change
Quarterly average $71,948 $71,385 0.8%

FISCAL AVERAGE
ASSETS UNDER MANAGEMENT
Fiscal 2012
(millions)
Fiscal 2011
(millions)
%
Change
Fiscal year average $71,855 $72,186 -0.5%

EQUITY FINANCIAL POSITION
(millions)      
Total outstanding shares 283,355,803 Debt outstanding $750
QTD weighted avg. shares 283,355,095 Net debt outstanding $593
Current Yield 4.3%    
Potential share dilution
from options
563,391 Terminal redemption value of funds $793
All options % of shares
 
2.4%
 
 
 
 
 

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

ESTIMATED GEOGRAPHIC EXPOSURE OF AUM
Canada  51% Asia 3%
United States 22% Other  4%
Europe  9% Cash 11%

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.cifinancial.com.

 

SOURCE: CI Financial Corp.

For further information:

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


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