CI Financial reports net sales of $65 million in August



    TSX Symbol: CIX

    TORONTO, Sept. 1 /CNW/ - CI Financial Corp. ("CI") today reported gross
sales of $534 million and net sales of $65 million in August. CI posted its
sixth consecutive month of asset growth, with assets under management at
August 31, 2009, reaching $62.9 billion, an increase of $1.3 billion or 2.1%
for the month. Total fee-earning assets were $91.1 billion, an increase of
$1.8 billion or 2.0% for August.
    CI subsidiaries CI Investments Inc. and United Financial Corporation had
combined retail net sales of $76 million in long-term funds and $11 million in
redemptions in money market funds for the month.
    As of August 31, 2009, assets under management consisted of investment
funds and structured products at CI Investments and United Financial of $58.9
billion, and institutional assets of $4.0 billion. CI also reported assets
under administration of $27.4 billion, which consisted of $20.2 billion in
assets under administration at Assante Wealth Management (Canada) Ltd. and
$7.2 billion in assets under administration at Blackmont Capital Inc. Other
fee-earning assets totalled $796 million.
    Additional information about CI's sales, 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. The sales and assets reported in
this release are the only statistics authorized by CI and CI takes no
responsibility for reporting by any external sources.

    
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                             CI FINANCIAL CORP.
                               August 31, 2009
                            MONTH-END STATISTICS
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    MONTHLY SALES DATA                 GROSS SALES  REDEMPTIONS   NET SALES
    RETAIL MANAGED FUNDS                (millions)   (millions)   (millions)
    -------------------------------------------------------------------------
    Long-term funds                          $474         $398          $76
    Short-term funds                          $60          $71         -$11
    -------------------------------------------------------------------------
    TOTAL RETAIL FUNDS                       $534         $469          $65
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
                                        Jul 31/09    Aug 31/09           %
    FEE-EARNING ASSETS                  (millions)   (millions)       Change
    -------------------------------------------------------------------------
    Retail assets under management        $57,646      $58,868          2.1%
    -------------------------------------------------------------------------
    Institutional managed assets            3,909        3,999          2.3%
    -------------------------------------------------------------------------
    TOTAL assets under management         $61,555      $62,867          2.1%
    -------------------------------------------------------------------------
    Assante assets under administration(*) 19,809       20,196          2.0%
    -------------------------------------------------------------------------
    Blackmont assets under administration   7,210        7,243          0.5%
    -------------------------------------------------------------------------
    TOTAL assets under administration     $27,019      $27,439          1.6%
    -------------------------------------------------------------------------
    CI other fee-earning assets               774          796          2.8%
    -------------------------------------------------------------------------
    TOTAL FEE-EARNING ASSETS              $89,348      $91,102          2.0%
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    MONTHLY AVERAGE RETAIL              Jul 31/09    Aug 31/09           %
    ASSETS UNDER MANAGEMENT             (millions)   (millions)       Change
    -------------------------------------------------------------------------
    Monthly average retail assets         $55,672      $58,343          4.8%
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    QUARTERLY AVERAGE RETAIL            Jun 30/09    Aug 31/09           %
    ASSETS UNDER MANAGEMENT             (millions)   (millions)       Change
    -------------------------------------------------------------------------
    Quarterly average retail assets       $53,727      $57,007          6.1%
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    FISCAL AVERAGE RETAIL           December 31/08  August 31/09         %
    ASSETS UNDER MANAGEMENT             (millions)   (millions)       Change
    -------------------------------------------------------------------------
    Fiscal year average retail assets     $60,208      $52,695        -12.5%
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
                                          FINANCIAL POSITION
    EQUITY                                (millions)
    -------------------------------------------------------------------------
    Total outstanding shares 292,412,743  Bank debt                     $822
    QTD weighted avg. shares 292,405,164  Cash and marketable securities (36)
    Yield at $20.25                 3.0%  -----------------------------------
    In-the-money options       7,009,272  Net debt outstanding          $786
    Percentage of all options        99%  -----------------------------------
    All options % of shares         2.4%  In-the-money option liability
                                          (net of tax)                   $13
                                          Terminal redemption value
                                           of funds                     $799
                                          Quarter-to-date equity-based
                                           compensation(xx)               $8
    -------------------------------------------------------------------------
    (*)  Includes CI and United Financial investment fund assets administered
         by Assante advisors.
    (xx) Estimate partially based on marked-to-market pre-tax option expense
         accrual from change in share price and vesting from last quarter-end
         ($19.14) to August 31/2009 ($20.25)


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    GEOGRAPHIC EXPOSURE OF AUM
    -------------------------------------------------------------------------
    Canada                   47%            Asia              2%
    -------------------------------------------------------------------------
    United States            23%            Other            10%
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    Europe                    6%            Cash             12%
    -------------------------------------------------------------------------
    

    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.





For further information:

For further information: Stephen A. MacPhail, President, (416) 364-1145


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