CI Financial reports assets under management for July 2018
TSX Symbol: CIX
TORONTO, Aug. 1, 2018 /CNW/ - CI Financial Corp. ("CI") today reported preliminary assets under management at July 31, 2018 of $138.6 billion and total assets of $182.8 billion.
Assets under management grew by $18.4 billion or 15.3% year over year, and increased 0.3% in the month of July. Total assets gained $22.5 billion or 14.0% for the 12-month period, and increased 0.5% through the month of July.
In June 2018, CI's Australian subsidiary Grant Samuel Funds Management Pty Ltd. divested its stake in Tribeca Investment Partners Pty Ltd., resulting in a $1.025 billion reduction in CI's assets under management, which is reflected in the table of preliminary month-end statistics. The management fees associated with these assets were not material to CI.
CI's average assets under management for the quarter-to-date were $139.1 billion, versus $139.5 billion for the second quarter of 2018. Average assets under management for the year-to-date were $140.4 billion, a gain of $14.1 billion or 11.2% from the average for fiscal 2017.
CI reported assets under advisement at Assante Wealth Management (Canada) Ltd. and Stonegate Private Counsel of $44.2 billion at July 31, 2018, representing an increase of $4.1 billion or 10.2% year over year.
Further 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 Share Information section. These are the only statistics authorized by CI and CI takes no responsibility for reporting by any external sources.
| CI FINANCIAL CORP. July 31, 2018 PRELIMINARY MONTH-END STATISTICS |
|||||
| ENDING ASSETS |
July 31/18 |
June 30/18 |
% |
July 31/17 |
% |
| Assets under management |
$138.6 |
$138.2 |
0.3% |
$120.2 |
15.3% |
| Assets under advisement1 |
44.2 |
43.7 |
1.1% |
40.1 |
10.2% |
| TOTAL |
$182.8 |
$181.9 |
0.5% |
$160.3 |
14.0% |
| MONTHLY AVERAGE ASSETS UNDER MANAGEMENT |
July 31/18 |
June 30/18 |
% |
| Monthly average |
$139.1 |
$140.5 |
-1.0% |
| FISCAL QUARTER AVERAGE ASSETS UNDER MANAGEMENT |
Ending July 31/18 |
Ending June 30/18 |
% |
| Fiscal quarter average |
$139.1 |
$139.5 |
-0.3% |
| FISCAL YEAR AVERAGE ASSETS UNDER MANAGEMENT |
Fiscal 2018 |
Fiscal 2017 |
% |
| Fiscal year average |
$140.4 |
$126.3 |
11.2% |
| EQUITY (millions) |
FINANCIAL POSITION (millions) |
||
| Total outstanding shares |
259.7 |
Debt outstanding |
$1,417 |
| QTD weighted avg. shares |
260.0 |
Net debt outstanding |
$1,133 |
| Current Yield |
6.2% |
Terminal redemption value of funds |
$351 |
1 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 company offering global asset management and wealth management advisory services. Its primary operating businesses are CI Investments Inc., Assante Wealth Management (Canada) Ltd., CI Private Counsel LP, Grant Samuel Funds Management Pty Ltd. of Australia, First Asset Investment Management Inc., and BBS Securities Inc. Further information is available at www.cifinancial.com.
SOURCE CI Financial Corp.
Investor Relations, CI Financial Corp., (416) 364-1145
Share this article