CI Financial reports record assets under management of $88.5 billion

TSX Symbol: CIX

TORONTO, Nov. 1, 2013 /CNW/ - CI Financial Corp. ("CI") today reported assets under management of $88.5 billion and total assets of $114.7 billion as of October 31, 2013. Both represent new month-end records.

CI's assets under management grew by $14.2 billion or 19.2% year over year, and were up $2.9 billion or 3.4% for the month of October 2013. In comparison, the S&P/TSX Composite Total Return Index gained 11.0% over the 12-month period and 4.7% in October.

"It was a great month for CI's fund investors as our equity funds posted strong performance," said Stephen A. MacPhail, CI President and Chief Executive Officer. "CI had one of its best growth months ever in October, reflecting the continued strength in our business and driving our assets to record levels."

CI's assets under management as of October 31 were up $4.3 billion or 5.2% from the average assets under management for the quarter ended September 30, 2013, and up $15.9 billion or 21.8% over the average for fiscal 2012.

CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $26.3 billion at October 31, 2013, an increase of 15.6% year over year.

CI is scheduled to release its financial results for the period ending September 30, 2013 on Thursday, November 7, 2013.

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.
October 31, 2013
PRELIMINARY MONTH-END STATISTICS

ENDING ASSETS

 Oct. 31/13 
(millions) 
 Sep. 30/13 
(millions) 
%
 Change 
 Oct. 31/12
(millions) 
%
 Change 
Assets under management $88,468  $85,557  3.4%  $74,224  19.2% 

Assets under administration*

26,268  25,440  3.3%  22,718  15.6% 
TOTAL $114,736  $110,997  3.4%  $96,942  18.4% 

MONTHLY AVERAGE
ASSETS UNDER MANAGEMENT
Oct. 31/13
(millions)
Sep. 30/13
(millions)
%
Change
Monthly average $87,024 $84,978 2.4%

FISCAL QUARTER AVERAGE
ASSETS UNDER MANAGEMENT
 Ending Oct. 31/13 
(millions)
 Ending Sep. 30/13 
(millions)
%
 Change
Fiscal quarter average $87,024 $84,125 3.4%

FISCAL YEAR AVERAGE
ASSETS UNDER MANAGEMENT
 Ending Oct. 31/13 
(millions)
Fiscal 2012
(millions)
%
Change
Fiscal year average $82,119 $72,606 13.1%

EQUITY  FINANCIAL POSITION
 (millions)
Total outstanding shares  283,960,356   Debt outstanding  $500 
QTD weighted avg. shares  283,948,602  Net debt outstanding  $379
Current Yield 3.1%     
Potential share dilution from options 1,527,577   Terminal redemption value of funds $760 
All options % of shares 1.7%     
       

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

ESTIMATED GEOGRAPHIC EXPOSURE OF AUM 
Canada 44% Asia 4% 
United States 27% Other 5% 
Europe 13% Cash 7% 

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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