TORONTO, May 14, 2014 /CNW/ - CI Financial Corp. ("CI") today issued a
response to Scotiabank's announcement that it is seeking to monetize
its minority stake in CI.
CI is now considering the implications of the announcement and the
impact it may have on CI's other shareholders. As part of this, CI
intends to review its capital structure and dividend policy to ensure
that it has the appropriate resources available to respond to any
monetization plan Scotiabank seeks to implement.
CI's clients, business partners and shareholders can be assured that the
bank's decision has no impact on the management of CI or the strong
fundamentals of its business. CI has been posting record gross sales
and its best net sales in over a decade, with strong results across all
distribution channels. CI has reached record asset levels with assets
under management of $97.3 billion and total assets of $125.8 billion as
at April 30, 2014.
"Scotiabank is entitled to dispose of their shares as they see fit. As
always, CI will work in the interests of all of our shareholders and
management will remain focused on the continued success of our
business," said William T. Holland, CI Chairman.
CI Financial Corp. (TSX: CIX) is an independent, Canadian-owned wealth
management company with approximately $126 billion in assets as of
April 30, 2014. 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:
William T. Holland
CI Financial Corp.