CI Financial reports assets under management

TSX Symbol: CIX

TORONTO, Sept. 1, 2016 /CNW/ - CI Financial Corp. ("CI") today reported assets under management at August 31, 2016 of $112.4 billion and total assets of $149.3 billion.

Assets under management increased by $5.0 billion or 4.7% year over year and were down slightly in the month of August. Total assets gained $8.3 billion for the 12-month period and declined slightly in August.

Average assets under management for the quarter-to-date were $112.1 billion, representing an increase of $3.1 billion or 2.9% from the average for the second quarter of 2016. Average assets under management for the year-to-date were $109.2 billion, up 0.7% from the average for fiscal year 2015.

CI reported assets under advisement at Assante Wealth Management (Canada) Ltd. and Stonegate Private Counsel of $37.0 billion at August 31, 2016, an increase of $3.3 billion or 9.9% year over year.

In other matters, CI Investments Inc. announced that, effective today, CI Global Investments Inc. is being added as a portfolio sub-advisor to three funds: Harbour Growth & Income Fund, Harbour Growth & Income Corporate Class, and Harbour Global Growth & Income Corporate Class. The portfolio management team for the funds is unchanged. Roger Mortimer, Senior Portfolio Manager of Harbour Advisors, is Lead Portfolio Manager of the three funds, assisted by Associate Portfolio Manager Gurveer Kehal on the global fund. Paul Sandhu, Vice-President and Portfolio Manager of Marret Asset Management Inc., is responsible for fixed-income security selection in the three portfolios.

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, 2016

PRELIMINARY MONTH-END STATISTICS

ENDING ASSETS

Aug. 31/16
(millions)

July 31/16
(millions)

%
Change

Aug. 31/15
(millions)

%
Change

Assets under management

$112,376

$113,024

-0.6%

$107,368

4.7%

Assets under advisement*

36,962

36,741

0.6%

33,635

9.9%

TOTAL

$149,338

$149,765

-0.3%

$141,003

5.9%

 

MONTHLY AVERAGE
ASSETS UNDER MANAGEMENT

Aug. 31/16
(millions)

July 31/16
(millions)

%
Change

Monthly average

$112,635

$111,645

0.9%

                               

FISCAL QUARTER AVERAGE
ASSETS UNDER MANAGEMENT

Ending Aug. 31/16
(millions)

Ending June 30/16
(millions)

%
Change

Fiscal quarter average

$112,140

$108,994

2.9%

 

FISCAL YEAR AVERAGE
ASSETS UNDER MANAGEMENT

Ending Aug. 31/16
 (millions)

Fiscal 2015
(millions)

%
Change

Fiscal year average

$109,169

$108,384

0.7%

 

EQUITY

FINANCIAL POSITION
(millions)       

Total outstanding shares

269,961,980

Debt outstanding

$656

QTD weighted avg. shares

270,660,973

Net debt outstanding

$501

Current Yield

5.4%



Potential share dilution from options

60,850

Terminal redemption value of funds

$567

All options % of shares

3.3%



* Includes assets managed by CI and held by clients of advisors with Assante and Stonegate Private Counsel.

ESTIMATED GEOGRAPHIC EXPOSURE OF AUM

Canada

36%

Asia

4%

United States

35%

Other

4%

Europe

13%

Cash

8%

 

CI Financial Corp. (TSX: CIX) is an independent, Canadian-owned wealth management company. Its primary operating businesses are CI Investments Inc., one of Canada's largest investment managers, advisory businesses Assante Wealth Management and Stonegate Private Counsel, and First Asset Capital Corp., a leader in providing actively managed exchange-traded funds to the Canadian marketplace. CI is on the Web at www.cifinancial.com.

SOURCE CI Financial Corp.

For further information: Investor Relations, CI Financial Corp., (416) 364-1145

RELATED LINKS
http://www.ci.com

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