CI Financial reports record assets under management
TSX Symbol: CIX
TORONTO, March 2, 2015 /CNW/ - CI Financial Corp. ("CI") today reported assets under management at February 28, 2015 of $109.0 billion, a new high for CI. Total assets, at $140.6 billion, were also at a record level.
Assets under management grew by $13.9 billion or 14.6% year over year and were up $3.5 billion or 3.3% in the month of February. Total assets gained $17.5 billion or 14.2% for the year and $4.5 billion or 3.3% in February. In comparison, the S&P/TSX Composite Index was up 10.3% for the year and 4.0% in the month of February.
At $109.0 billion, assets under management at February 28, 2015 were up $7.9 billion or 7.8% from the average assets under management for the fourth quarter of 2014, and were $10.6 billion or 10.7% higher than the average for fiscal 2014.
CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $31.6 billion at February 28, 2015, an increase of 12.9% year over year.
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. February 28, 2015 PRELIMINARY MONTH-END STATISTICS |
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ENDING ASSETS |
Feb. 28/15 (millions) |
Jan. 31/15 (millions) |
% Change |
Feb. 28/14 (millions) |
% Change |
Assets under management |
$108,977 |
$105,478 |
3.3% |
$95,113 |
14.6% |
Assets under administration* |
31,648 |
30,626 |
3.3% |
28,032 |
12.9% |
TOTAL |
$140,625 |
$136,104 |
3.3% |
$123,145 |
14.2% |
MONTHLY AVERAGE ASSETS UNDER MANAGEMENT |
Feb. 28/15 (millions) |
Jan. 31/15 (millions) |
% Change |
Monthly average |
$107,529 |
$103,436 |
4.0% |
FISCAL QUARTER AVERAGE ASSETS UNDER MANAGEMENT |
Ending Feb. 28/15 (millions) |
Ending Dec. 31/14 (millions) |
% Change |
Fiscal quarter average |
$105,379 |
$101,120 |
4.2% |
FISCAL YEAR AVERAGE ASSETS UNDER MANAGEMENT |
Ending Feb. 28/15 (millions) |
Fiscal 2014 (millions) |
% Change |
Fiscal year average |
$105,379 |
$98,408 |
7.1% |
EQUITY |
FINANCIAL POSITION (millions) |
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Total outstanding shares |
281,796,736 |
Debt outstanding |
$300 |
QTD weighted avg. shares |
281,749,015 |
Net debt outstanding |
$175 |
Current Yield |
3.6% |
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Potential share dilution from options |
875,349 |
Terminal redemption value of funds |
$715 |
All options % of shares |
2.7% |
* Includes CI and United Financial funds administered by Assante advisors.
ESTIMATED GEOGRAPHIC EXPOSURE OF AUM |
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Canada |
38% |
Asia |
4% |
United States |
33% |
Other |
3% |
Europe |
14% |
Cash |
8% |
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., (416) 364-1145
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