CI Financial reports continued growth in assets under management

TSX Symbol: CIX

TORONTO, Sept. 4, 2012 /CNW/ - CI Financial Corp. ("CI") today reported assets under management of $72.4 billion and total assets of $94.5 billion as of August 31, 2012.

Assets under management grew by 0.9% for the month of August and increased 2.3% year over year. Average assets under management for the year-to-date at August 31, 2012 were $71.9 billion, compared to an average of $72.2 billion for the 2011 fiscal year.

CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $22.2 billion at August 31, 2012.

In other developments in August, Transamerica Life Canada last week announced that it has selected CI Investments Inc. as sub-advisor for its existing TOP Guaranteed Investment Portfolios program. Under the agreement, Transamerica's TOP Guaranteed Investment Portfolios will be renamed Transamerica CI Guaranteed Investment Portfolios and they will invest in the underlying Transamerica CI Portfolios, which will be designed and managed by CI Investments. The change will take place September 21, 2012.

"Transamerica conducted a very thorough review process and the selection of CI speaks to the high quality and performance across our roster of portfolio management teams and to our experience and expertise in developing and managing asset allocation programs," said Stephen A. MacPhail, CI President and Chief Executive Officer. "This is a significant account and builds on the success we are having in the institutional marketplace."

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. August 31, 2012 PRELIMINARY MONTH-END STATISTICS
ENDING ASSETS	Aug. 31/12 (millions)	July 31/12 (millions)	% Change	Aug. 31/11 (millions)	% Change
Assets under management	$72,363	$71,685	0.9%	$70,719	2.3%
Assets under administration*	22,170	22,037	0.6%	21,918	1.1%
TOTAL	$94,533	$93,722	0.9%	$92,637	2.1%

MONTHLY AVERAGE ASSETS UNDER MANAGEMENT	Aug. 31/12 (millions)	July 31/12 (millions)	% Change
Monthly average	$72,389	$71,507	1.2%

QUARTERLY AVERAGE ASSETS UNDER MANAGEMENT	Aug. 31/12 (millions)	June 30/12 (millions)	% Change
Quarterly average	$71,948	$71,385	0.8%

FISCAL AVERAGE ASSETS UNDER MANAGEMENT	Fiscal 2012 (millions)	Fiscal 2011 (millions)	% Change
Fiscal year average	$71,855	$72,186	-0.5%

EQUITY		FINANCIAL POSITION (millions)
Total outstanding shares	283,355,803	Debt outstanding	$750
QTD weighted avg. shares	283,355,095	Net debt outstanding	$593
Current Yield	4.3%
Potential share dilution from options	563,391	Terminal redemption value of funds	$793
All options % of shares	2.4%

* 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]