CI Financial reports assets under management

CI Financial reports assets under management

TORONTO (October 1, 2014) – CI Financial Corp. (“CI”) today reported assets under management at September 30, 2014 of $100.8 billion and total assets of $130.1 billion. 

CI’s assets under management grew by $15.3 billion or 17.8% year over year and were down 1.3% in the month of September. Total assets were up $19.1 billion or 17.2% for the year and down 1.3% in September.  

Average assets under management for the quarter ending September 30, 2014, were $101.0 billion, representing an increase of $3.1 billion or 3.2% over the average assets under management for the second quarter and an increase of $17.7 billion or 21.2% over the average for fiscal 2013. 

CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $29.3 billion at September 30, 2014, an increase of 15.1% year over year.

“While September markets were challenging, we were pleased that our assets under management significantly outperformed the S&P/TSX index, which was down 4%,” said Stephen A. MacPhail, CI President and Chief Executive Officer. “Similarly, advisors at Assante and Stonegate Private Counsel demonstrated their ability to protect client assets in this environment. Our assets under administration also outperformed the equity market in September and have a gain for the year-to-date of 9%.”

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.

September 30, 2014

PRELIMINARY MONTH-END STATISTICS

ENDING ASSETS

Sept. 30/14(millions) Aug. 31/14(millions) %Change Sept. 30/13 (millions) %Change
Assets under management $100,810 $102,182 -1.3% $85,557 17.8%

Assets under administration*

29,270 29,618 -1.2% 25,440 15.1%
TOTAL $130,080 $131,800 -1.3% $110,997 17.2%
MONTHLY AVERAGE
ASSETS UNDER MANAGEMENT
Sept. 30/14 (millions) Aug. 31/14 (millions) % Change
Monthly average $101,669 $101,000 0.7%
FISCAL QUARTER AVERAGE
ASSETS UNDER MANAGEMENT
Ending Sept. 30/14 (millions) Ending June 30/14 (millions) % Change
Fiscal quarter average $101,016 $97,895 3.2%
FISCAL YEAR AVERAGE
ASSETS UNDER MANAGEMENT
Ending Sept. 30/14 (millions) Fiscal 2013(millions) % Change
Fiscal year average $97,494 $83,325 17.0%
EQUITY 

FINANCIAL POSITION

(millions)       

Total outstanding shares

282,860,534

Debt outstanding

$500

QTD weighted avg. shares

283,484,029

Net debt outstanding

$221

Current Yield

3.6%

 

 

Potential share dilution from options

924,024

Terminal redemption value of funds

$742

All options % of shares

2.0%

 

 

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

ESTIMATED GEOGRAPHIC EXPOSURE OF AUM

Canada

43% Asia 4%
United States 29% Other 4%

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.

For further information:

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