CI Financial reports assets under management

CI Financial reports assets under management

TORONTO (January 3, 2017) – CI Financial Corp. (“CI”) today reported preliminary assets under management at December 31, 2016 of $117.5 billion and total assets of $155.6 billion.

Assets under management grew by $6.4 billion or 5.8% in 2016 and increased 0.3% in the month of December. Total assets gained $9.9 billion or 6.8% for the 12-month period and were up 0.5% in December.  

CI’s average assets under management for the fourth quarter were $114.8 billion, versus $112.3 billion for the third quarter of 2016. Average assets under management for fiscal year 2016 were $110.9 billion, a gain of $2.5 billion or 2.3% from the average for fiscal 2015. 

CI reported assets under advisement at Assante Wealth Management (Canada) Ltd. and Stonegate Private Counsel of $38.1 billion at December 31, 2016, representing an increase of $3.5 billion or 10.1% year over year and 1.1% for the month of December. 

CI is scheduled to release its financial results for the fourth quarter and fiscal year 2016 on February 16, 2017 on CNW Group and cifinancial.com.

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.

December 31, 2016

PRELIMINARY MONTH-END STATISTICS

ENDING ASSETS

Dec. 31/16(billions) Nov. 30/16 (billions) %Change Dec. 31/15 (billions) %Change
Assets under management $117.5 $117.1 0.3% $111.1 5.8%

Assets under advisement*

38.1

37.7

1.1%

34.6

10.1%

TOTAL

$155.6

$154.8

0.5%

$145.7

6.8%

MONTHLY AVERAGE
ASSETS UNDER MANAGEMENT
Dec. 31/16                (billions) Nov. 30/16                (billions) %Change
Monthly average $117.2 $114.9 2.0%
FISCAL QUARTER AVERAGE
ASSETS UNDER MANAGEMENT
Ending Dec. 31/16                (billions) Ending Sept. 30/16                (billions) %Change
Fiscal quarter average $114.8 $112.3 2.2%
FISCAL YEAR AVERAGE
ASSETS UNDER MANAGEMENT
Ending Dec. 31/16 (billions) Fiscal 2015(billions) %Change
Fiscal year average $110.9 $108.4 2.3%
EQUITY 

FINANCIAL POSITION

(millions)       

Total outstanding shares

265,302,141 Debt outstanding $762
QTD weighted avg. shares 266,522,492

Net debt outstanding

$576
Current Yield 4.8%    
Potential share dilution from options 165,977 Terminal redemption value of funds $530
All options % of shares 3.3%    

* 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 Capital Corp., a leader in providing actively managed exchange-traded funds to the Canadian marketplace.

CI is on the Web at www.cifinancial.com.

 For further information:

Investor Relations
CI Financial Corp.
(416) 364-1145