CI Financial reports assets under management
TSX Symbol: CIX
TORONTO, March 1, 2017 /CNW/ - CI Financial Corp. ("CI") today reported preliminary assets under management at February 28, 2017 of $120.2 billion and total assets of $159.5 billion.
Assets under management grew by $13.9 billion or 13.1% year over year and increased by $2.8 billion or 2.4% in the month of February. Total assets gained $19.7 billion or 14.1% for the 12-month period and were up $3.9 billion or 2.5% in February.
CI's average assets under management for the quarter-to-date and year-to-date were $118.7 billion, representing an increase of $3.9 billion or 3.4% over the average assets under management for the fourth quarter of 2016 and an increase of $7.8 billion or 7.0% over the average for fiscal 2016.
CI reported assets under advisement at Assante Wealth Management (Canada) Ltd. and Stonegate Private Counsel of $39.3 billion at February 28, 2017, representing an increase of $5.8 billion or 17.3% year over year.
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. February 28, 2017 PRELIMINARY MONTH-END STATISTICS |
|||||
| ENDING ASSETS |
Feb. 28/17 |
Jan. 31/17 |
% |
Feb. 28/16 |
% |
| Assets under management |
$120.2 |
$117.4 |
2.4% |
$106.3 |
13.1% |
| Assets under advisement* |
39.3 |
38.2 |
2.9% |
33.5 |
17.3% |
| TOTAL |
$159.5 |
$155.6 |
2.5% |
$139.8 |
14.1% |
| MONTHLY AVERAGE ASSETS UNDER MANAGEMENT |
Feb. 28/17 |
Jan. 31/17 |
% |
| Monthly average |
$119.2 |
$118.1 |
0.9% |
| FISCAL QUARTER AVERAGE ASSETS UNDER MANAGEMENT |
Ending Feb. 28/17 |
Ending Dec. 31/16 |
% |
| Fiscal quarter average |
$118.7 |
$114.8 |
3.4% |
| FISCAL YEAR AVERAGE ASSETS UNDER MANAGEMENT |
Ending Feb. 28/17 |
Fiscal 2016 |
% |
| Fiscal year average |
$118.7 |
$110.9 |
7.0% |
| EQUITY
|
FINANCIAL POSITION (millions) |
||
| Total outstanding shares |
264,695,069 |
Debt outstanding |
$844 |
| QTD weighted avg. shares |
264,932,178 |
Net debt outstanding |
$672 |
| Current yield |
5.1% |
||
| Terminal redemption value of funds |
$503 |
||
* 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.
Investor Relations, CI Financial Corp., (416) 364-1145
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