CI Financial reports asset growth of over 2% in September

TSX Symbol: CIX

TORONTO, Oct. 1, 2012 /CNW/ - CI Financial Corp. ("CI") today reported assets under management of $73.9 billion and total assets of $96.6 billion as of September 30, 2012.

Assets under management grew by $1.5 billion or 2.1% for the month of September, and were up by $6.5 billion or 9.6% on a year-over-year basis. Assets under management at September 30, 2012 represent an increase of $2.5 billion or 3.5% over the average assets under management for the second quarter of 2012 and a gain of $1.7 billion or 2.3% over the average for fiscal 2011.

CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $22.7 billion at September 30, 2012, representing an increase of 2.5% for the month and 7.9% for the 12-month period.

"Our assets under management are up almost 10% over the past 12 months and are at their highest month-end level for the year-to-date," noted Stephen A. MacPhail, CI President and Chief Executive Officer. "A key reason for this growth is the extraordinary performance of our portfolio management teams, as approximately 81% of our long-term mutual fund assets under management have first or second-quartile returns for the 10 years ending August 31, 2012." (Source: CI, Morningstar.)

During September, a significant institutional account was invested with CI. As announced in August, Transamerica Life Canada selected CI Investments Inc. as sub-advisor for its existing TOP Guaranteed Investment Portfolios program, which has been renamed Transamerica CI Guaranteed Investment 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. September 30, 2012 PRELIMINARY MONTH-END STATISTICS
ENDING ASSETS	Sept. 30/12 (millions)	Aug. 31/12 (millions)	% Change	Sept. 30/11 (millions)	% Change
Assets under management	$73,866	$72,363	2.1%	$67,386	9.6%
Assets under administration*	22,708	22,154	2.5%	21,045	7.9%
TOTAL	$96,574	$94,517	2.2%	$88,431	9.2%

 

MONTHLY AVERAGE ASSETS UNDER MANAGEMENT	Sept. 30/12 (millions)	Aug. 31/12 (millions)	% Change
Monthly average	$73,449	$72,388	1.5%

FISCAL QUARTER AVERAGE ASSETS UNDER MANAGEMENT	Ending Sept. 30/12 (millions)	Ending June 30/12 (millions)	% Change
Fiscal quarter average	$72,437	$71,385	1.5%

FISCAL YEAR AVERAGE ASSETS UNDER MANAGEMENT	Fiscal 2012 (millions)	Fiscal 2011 (millions)	% Change
Fiscal year average	$72,030	$72,186	-0.2%

EQUITY		FINANCIAL POSITION (millions)
Total outstanding shares QTD weighted avg. shares Current Yield Potential share dilution from options All options % of shares	283,100,829 283,329,979 4.2% 693,570 2.3%	Debt outstanding Net debt outstanding   Terminal redemption value of funds	$750 $556   $790

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

ESTIMATED GEOGRAPHIC EXPOSURE OF AUM
Canada	51%	Asia	3%
United States	22%	Other	4%
Europe	9%	Cash	11%

 

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.cifinancial.com.

 

 

SOURCE: CI Financial Corp.

Stephen A. MacPhail
President and Chief Executive Officer
CI Financial
[phone]