CI Financial reports assets under management

CI Financial reports assets under management

 TORONTO (December 1, 2015) – CI Financial Corp. (“CI”) today reported assets under management at November 30, 2015 of $108.3 billion and total assets of $142.8 billion.  

Assets under management grew by $5.1 billion or 4.9% year over year and were up 0.3% in the month of November. Total assets gained $7.7 billion or 5.7% for the 12-month period and were up 0.4% in November. In comparison, the S&P/TSX Composite Index declined 5.8% over the 12-month period and was down 0.2% in the month of November. 

“November was another positive month for CI,” said Stephen A. MacPhail, CI President and Chief Executive Officer. “On a year-to-date basis, our assets under management are up 5.2%, significantly ahead of the S&P/TSX Composite Index, which is down 5.4%. This clearly shows the benefits to our investors of the global diversification of investments by CI’s money management teams.”

Average assets under management for the quarter-to-date were $107.6 billion, a decrease of 0.8% from the average for the third quarter. Average assets under management for the year-to-date were $108.2 billion, an increase of $9.8 billion or 9.9% over the average for fiscal 2014. 

CI also reported assets under advisement at Assante Wealth Management (Canada) Ltd. and Stonegate Private Counsel of $34.5 billion at November 30, 2015, an increase of 8.0% year over year.

In other developments in November, CI completed its acquisition of First Asset Capital Corp., with approximately $3 billion in assets under management (which are not currently included in CI’s assets under management). First Asset is a leader in providing actively managed and factor-based exchange-traded funds to the Canadian marketplace, and also offers mutual funds and closed-end funds. First Asset continues to operate under its own name as a separate company within the CI group, and under its existing management team.

In addition, three CI portfolio managers were the recipients of Fund Manager of the Year awards at the Morningstar Awards. Richard Jenkins, Chairman and Managing Director of Black Creek Investment Management, was named Morningstar Foreign Equity Fund Manager of the Year, and Greg Dean and Stephen Groff, Principals and Portfolio Managers with Cambridge Global Asset Management, were co-winners of the Breakout Fund Manager of the Year award.

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.

November 30, 2015

PRELIMINARY MONTH-END STATISTICS

ENDING ASSETS

Nov. 30/15

(millions)

Oct. 31/15

(millions)

%

Change

Nov. 30/14 (millions)

%

Change

Assets under management $108,256 $107,980 0.3% $103,152 4.9%

Assets under advisement*

34,534 34,282 0.7% 31,973 8.0%
TOTAL $142,790 $142,262 0.4% $135,125 5.7%
MONTHLY AVERAGE ASSETS UNDER MANAGEMENT Nov. 30/15 (millions) Oct. 31/15 (millions) % Change
Monthly average $108,031 $107,229 0.7%
FISCAL QUARTER AVERAGE ASSETS UNDER MANAGEMENT Ending Nov. 30/15 (millions) Ending Sept. 30/15 (millions) % Change
Fiscal quarter average $107,624 $108,541 -0.8%
FISCAL YEAR AVERAGE ASSETS UNDER MANAGEMENT Ending Nov. 30/15 (millions) Fiscal 2014(millions) % Change
Fiscal year average $108,161 $98,408 9.9%
EQUITY 

FINANCIAL POSITION

(millions)       

Total outstanding shares

276,767,903

Debt outstanding

$526

QTD weighted avg. shares 275,894,613

Net debt outstanding

$421
Current Yield 4.2%    
Potential share dilution from options 402,713 Terminal redemption value of funds $657
All options % of shares 2.6%    

* Includes assets managed by CI and held by clients of advisors with Assante and Stonegate Private Counsel.

ESTIMATED GEOGRAPHIC EXPOSURE OF AUM

Canada

35% Asia 4%
United States 35% Other 4%

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

For further information:

Stephen A. MacPhail
President and Chief Executive Officer
CI Financial Corp.
(416) 364-1145