CI Financial reports record assets under management

TORONTO, Feb. 3, 2014 /CNW/ - CI Financial Corp. ("CI") today reported assets under management of $91.8 billion as of January 31, 2014, a new month-end record for the company.

CI's assets under management grew by $13.7 billion or 17.5% for the year ending January 31, 2014 and were up $715 million or 0.8% for the month of January. Total assets were $119.0 billion at January 31, representing growth of $17.3 billion or 17.0% year over year and $938 million or 0.8% in January. In comparison, the S&P/TSX Composite Total Return Index gained 11.4% over the year and 0.8% in January.

CI's assets under management as of January 31, 2014 were up $3.2 billion or 3.7% from the average assets under management for the quarter ended December 31, 2013, and up $8.5 billion or 10.2% over the average for fiscal 2013.

CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $27.2 billion at January 31, 2014, an increase of 15.2% year over year.

CI is scheduled to release is financial results for the fourth quarter of 2013 on Thursday, February 13, 2014 on CNW Group and www.cifinancial.com.

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. January 31, 2014 PRELIMINARY MONTH-END STATISTICS
ENDING ASSETS	Jan. 31/14 (millions)	Dec. 31/13 (millions)	% Change	Jan. 31/13 (millions)	% Change
Assets under management	$91,805	$91,090	0.8%	$78,100	17.5%
Assets under administration*	27,183	26,960	0.8%	23,596	15.2%
TOTAL	$118,988	$118,050	0.8%	$101,696	17.0%

MONTHLY AVERAGE ASSETS UNDER MANAGEMENT	Jan. 31/14 (millions)	Dec. 31/13 (millions)	% Change
Monthly average	$91,752	$89,674	2.3%

FISCAL QUARTER AVERAGE ASSETS UNDER MANAGEMENT	Ending Jan. 31/14 (millions)	Ending Dec. 31/13 (millions)	% Change
Fiscal quarter average	$91,752	$88,558	3.6%

FISCAL YEAR AVERAGE ASSETS UNDER MANAGEMENT	Ending Jan. 31/14 (millions)	Fiscal 2013 (millions)	% Change
Fiscal year average	$91,752	$83,325	10.1%

EQUITY		FINANCIAL POSITION (millions)
Total outstanding shares	284,680,002	Debt outstanding	$500
QTD weighted avg. shares	284,535,215	Net debt outstanding	$321
Current Yield	3.3%
Potential share dilution from options	1,138,362
All options % of shares	1.3%	Terminal redemption value of funds	$753

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

ESTIMATED GEOGRAPHIC EXPOSURE OF AUM
Canada	44%	Asia	4%
United States	27%	Other	5%
Europe	14%	Cash	6%

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, and is on the Web at www.cifinancial.com.

 

 

SOURCE: CI Investments Inc.

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