Feb. 2, 2011 (Canada NewsWire Group) --
TSX Symbol: CIX
TORONTO, Feb. 2 /CNW/ - CI Financial Corp. ("CI") today reported assets under management at January 31, 2011 of $73.7 billion, a month-end record for the firm.
When compared to January 31, 2010, CI's assets under management have grown by 17.7% or $11.1 billion. Net of the recent acquisition of Hartford Investments Canada Corp., CI's year-over-year asset growth was 14.8% or $9.2 billion.
In the month of January 2011, CI's assets under management increased by 1.2% or $863 million, representing the fifth consecutive month of asset growth. In addition, CI's assets under management at January 31, 2011 were up 6.3% from the average for the fourth quarter of 2010.
CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $22.6 billion, bringing CI's total assets at January 31, 2011 to $96.3 billion. Total assets increased by 1.0% or $959 million during January.
As previously announced, CI is now reporting its sales results on a quarterly basis, with the release of its interim and annual financial results. CI is scheduled to report its quarterly and annual results for the period ending December 31, 2010 on February 23, 2010.
Additional information about CI's sales, assets and financial position can be found below in the tables of preliminary statistics and on its website, www.ci.com/cix, 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. January 31, 2011 MONTH-END STATISTICS |
|||||
|
ENDING ASSETS |
Jan. 31/11 (millions) |
Dec. 31/10 (millions) |
% Change |
Jan. 31/10 (millions) |
% Change |
| Assets under management | $73,688 | $72,825 | 1.2% | $62,583 | 17.7% |
|
Assets under administration* |
22,593 | 22,497 | 0.4% | 20,862 | 8.3% |
| TOTAL | $96,281 | $95,322 | 1.0% | $83,445 | 15.4% |
|
MONTHLY AVERAGE ASSETS UNDER MANAGEMENT |
Jan. 31/11 (millions) |
Dec. 31/10 (millions) |
% Change |
| Monthly average | $73,041 | $71,227 | 2.5% |
|
QUARTERLY AVERAGE ASSETS UNDER MANAGEMENT |
Jan. 31/11 (millions) |
Dec. 31/10 (millions) |
% Change |
| Quarterly average | $73,041 | $69,297 | 5.4% |
|
FISCAL AVERAGE ASSETS UNDER MANAGEMENT |
Fiscal 2011 (millions) |
Fiscal 2010 (millions) |
% Change |
| Fiscal year average | $73,041 | $65,719 | 11.1% |
| EQUITY |
FINANCIAL POSITION |
||
|
Total outstanding shares |
287,911,796 | Debt Outstanding | $850 |
| QTD weighted avg. shares | 287,605,710 |
Cash and marketable securities |
(115) |
| Yield at $21.45 | 3.9% | Net debt outstanding | $735 |
| In-the-money options | 5,504,594 | ||
| Percentage of all options | 99% | Terminal redemption value of funds | $798 |
| All options % of shares | 1.9% | ||
* Includes CI and United Financial funds administered by Assante advisors.
| ESTIMATED GEOGRAPHIC EXPOSURE OF AUM | |||
|
Canada |
52% | Asia | 4% |
| United States | 23% | Other | 4% |
|
Europe |
10% | 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. CI is on the Web at www.ci.com/cix.
This press release contains forward-looking statements with respect to CI and its products and services, including its business operations and strategy and financial performance and condition. Although management believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, including interest rates, business competition, changes in government regulations or in tax laws, and other factors discussed in materials filed with applicable securities regulatory authorities from time to time.
Stephen A. MacPhail
President and Chief Executive Officer
CI Financial Corp.
(416) 364-1145
