CI Financial reports assets under management
Feb 01, 2017, 18:24 ET
TSX Symbol: CIX
TORONTO, Feb. 1, 2017 /CNW/ - CI Financial Corp. ("CI") today reported preliminary assets under management at January 31, 2017 of $117.5 billion and total assets of $155.6 billion.
Assets under management grew by $9.8 billion or 9.1% year over year and declined 0.3% in the month of January. Total assets gained $14.2 billion or 10.0% for the 12-month period and were down 0.3% in January.
CI's average assets under management for the quarter-to-date and year-to-date were $118.1 billion, representing an increase of $3.3 billion or 2.9% over the average assets under management for the fourth quarter of 2016 and an increase of $7.2 billion or 6.5% over the average for fiscal 2016.
CI reported assets under advisement at Assante Wealth Management (Canada) Ltd. and Stonegate Private Counsel of $38.1 billion at January 31, 2017, representing an increase of $4.4 billion or 13.1% year over year.
CI is scheduled to release its financial results for the fourth quarter and fiscal year 2016 on February 16, 2017 on CNW Group and cifinancial.com.
Additional information about CI's assets and financial position can be found below in the tables of 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. January 31, 2017 PRELIMINARY MONTH-END STATISTICS |
|||||
| ENDING ASSETS |
Jan. 31/17 |
Dec. 31/16 |
% |
Jan 31/16 |
% |
| Assets under management |
$117.5 |
$117.9 |
-0.3% |
$107.7 |
9.1% |
| Assets under advisement* |
38.1 |
38.2 |
-0.3% |
33.7 |
13.1% |
| TOTAL |
$155.6 |
$156.1 |
-0.3% |
$141.4 |
10.0% |
| MONTHLY AVERAGE ASSETS UNDER MANAGEMENT |
Jan. 31/17 |
Dec. 31/16 |
% |
| Monthly average |
$118.1 |
$117.3 |
0.7% |
| FISCAL QUARTER AVERAGE ASSETS UNDER MANAGEMENT |
Ending Jan.31/17 |
Ending Dec. 31/16 |
% |
| Fiscal quarter average |
$118.1 |
$114.8 |
2.9% |
| FISCAL YEAR AVERAGE ASSETS UNDER MANAGEMENT |
Ending Jan. 31/17 |
Fiscal 2016 |
% |
| Fiscal year average |
$118.1 |
$110.9 |
6.5% |
| EQUITY
|
FINANCIAL POSITION (millions) |
||
| Total outstanding shares |
264,767,657 |
Debt outstanding |
$776 |
| QTD weighted avg. shares |
265,051,782 |
Net debt outstanding |
$604 |
| Current Yield |
5.1% |
||
| Potential share dilution from options |
45,335 |
Terminal redemption value of funds |
$519 |
| All options % of shares |
3.2% |
||
* Includes assets managed by CI and held by clients of advisors with Assante and Stonegate Private Counsel.
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, Grant Samuel Funds Management of Australia, and First Asset Investment Management, 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.
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For further information: Investor Relations, CI Financial Corp., (416) 364-1145
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