TORONTO, April 1, 2014 /CNW/ - CI Financial Corp. ("CI") today reported
assets under management at March 31, 2014 of $96.4 billion, an all-time
high for CI.
CI's assets under management grew by $16.0 billion or 19.9% year over
year and were up $1.3 billion or 1.4% for the month of March. Total
assets were $124.8 billion at March 31, representing growth of $20.0
billion or 19.2% for the year and $1.6 billion or 1.3% in March. In
comparison, the S&P/TSX Composite Total Return Index gained 16.0% over
the year and 1.2% in March.
"Last year's momentum has continued into the first quarter, with CI's
assets under management growing by $5.4 billion or 6% since year-end,"
said Stephen A. MacPhail, CI President and Chief Executive Officer.
"Our sales have been outstanding through this year's RRSP season, as
gross and net sales for the three months surpassed last year's levels
for the same period."
CI's average assets under management for the quarter ending March 31,
2014 were $93.5 billion, up $4.9 billion or 5.6% from the average for
the fourth quarter of 2013 and up $10.2 billion or 12.2% from the
average for fiscal 2013.
CI also reported assets under administration at Assante Wealth
Management (Canada) Ltd. of $28.3 billion at March 31, 2014, an
increase of 16.9% year over year.
In other developments, CI Investments Inc. recently launched three
income funds under the Marret name: Marret Short Duration High Yield
Fund, Marret High Yield Bond Fund, and Marret Strategic Yield Fund. The
funds provide monthly income through a regular distribution and their
portfolios are managed by Marret Asset Management Inc. CI acquired a
majority interest in Marret in December 2013.
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.
March 31, 2014
PRELIMINARY MONTH-END STATISTICS
|
|
ENDING ASSETS
|
Mar. 31/14
(millions)
|
Feb. 28/14
(millions)
|
%
Change
|
Mar. 31/13
(millions)
|
%
Change
|
|
Assets under management
|
$96,445
|
$95,113
|
1.4%
|
$80,471
|
19.9%
|
|
Assets under administration*
|
28,312
|
28,032
|
1.0%
|
24,222
|
16.9%
|
|
TOTAL
|
$124,757
|
$123,145
|
1.3%
|
$104,693
|
19.2%
|
MONTHLY AVERAGE
ASSETS UNDER MANAGEMENT
|
Mar. 31/14
(millions)
|
Feb. 28/14
(millions)
|
%
Change
|
|
Monthly average
|
$95,662
|
$93,006
|
2.9%
|
| |
FISCAL QUARTER AVERAGE
ASSETS UNDER MANAGEMENT
|
Ending Mar. 31/14
(millions)
|
Ending Dec. 31/13
(millions)
|
%
Change
|
|
Fiscal quarter average
|
$93,488
|
$88,558
|
5.6%
|
| |
FISCAL YEAR AVERAGE
ASSETS UNDER MANAGEMENT
|
Ending Mar. 31/14
(millions)
|
Fiscal 2013
(millions)
|
%
Change
|
|
Fiscal year average
|
$93,488
|
$83,325
|
12.2%
|
|
EQUITY
|
FINANCIAL POSITION
(millions)
|
Total outstanding shares
QTD weighted avg. shares
Current Yield
Potential share dilution from options
All options % of shares
|
284,520,332
284,615,785
3.3%
1,095,834
2.0%
|
Debt outstanding
Net debt outstanding
Terminal redemption value of funds
|
$500
$337
$745
|
* Includes CI and United Financial funds administered by Assante
advisors.
|
ESTIMATED GEOGRAPHIC EXPOSURE OF AUM
|
|
Canada
|
44%
|
Asia
|
4%
|
|
United States
|
27%
|
Other
|
4%
|
|
Europe
|
14%
|
Cash
|
7%
|
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