Mar. 1, 2011 (Canada NewsWire Group) --
TSX Symbol: CIX
TORONTO, March 1 /CNW/ - CI Financial Corp. ("CI") today reported assets under management at February 28, 2011 of $75.3 billion.
This represents an increase of $11.4 billion or 17.8% from February 28, 2010, and an increase of $1.6 billion or 2.1% for the month of February 2011. It was the sixth consecutive month of asset growth and brings CI's assets under management to a new month-end record for the company. CI's current assets under management are up 8.6% from the average for the fourth quarter of 2010.
CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $23.3 billion. CI's total fee-earning assets at February 28, 2011 were $98.6 billion, an increase of 2.1% for the month and 15.9% for the year.
February marked the launch of Castlerock Investments Inc., the new name for Hartford Investments Canada Corp., which was acquired by CI in December 2010. Along with the rebranding, Castlerock also announced enhancements to its lineup that included the launch of four new funds and portfolio management changes to certain funds. Information about Castlerock is at www.castlerockinvestments.ca.
Also in February, it was announced that CI funds had received nine 2011 Lipper Fund Awards. The Lipper Fund Awards program honours funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers. CI's award recipients included three Castlerock funds, five CI Investments funds and one Lakeview fund. The award-winning portfolio management teams included Altrinsic Global Advisors, Barometer Capital Management, Black Creek Investment Management, Greystone Managed Investments, Signature Global Advisors and Trilogy Global Advisors.
Additional information about CI's 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. February 28, 2011 MONTH-END STATISTICS |
|||||
|
ENDING ASSETS |
Feb. 28/11
(millions) |
Jan. 31/11
(millions) |
% Change |
Feb. 28/10
(millions) |
% Change |
| Assets under management | $75,269 | $73,692 | 2.1% | $63,918 | 17.8% |
|
Assets under administration* |
23,316 | 22,888 | 1.9% | 21,174 | 10.1% |
| TOTAL | $98,585 | $96,580 | 2.1% | $85,092 | 15.9% |
|
MONTHLY AVERAGE ASSETS UNDER MANAGEMENT |
Feb. 28/11 (millions) | Jan. 31/11 (millions) |
% Change |
| Monthly average | $74,793 | $73,040 | 2.4% |
| QUARTERLY AVERAGE ASSETS UNDER MANAGEMENT | Feb. 28/11 (millions) | Dec. 31/10 (millions) |
% Change |
| Quarterly average | $73,872 | $69,297 | 6.6% |
|
FISCAL AVERAGE ASSETS UNDER MANAGEMENT |
Fiscal 2011
(millions) |
Fiscal 2010
(millions) |
% Change |
| Fiscal year average | $73,872 | $65,719 | 12.4% |
| EQUITY | FINANCIAL POSITION (millions) | ||
| Total outstanding shares | 287,969,982 | Debt Outstanding | $850 |
| QTD weighted avg. shares | 287,753,147 | Cash and marketable securities | (131) |
| Yield at $23.02 | 3.9% | Net debt outstanding | $719 |
| In-the-money options | 6,965,693 | ||
| Percentage of all options | 99% | Terminal redemption value of funds | $793 |
| All options % of shares | 2.4% | ||
* Includes CI and United Financial funds administered by Assante advisors.
| ESTIMATED GEOGRAPHIC EXPOSURE OF AUM | |||
| Canada | 53% | Asia | 3% |
| United States | 22% | Other | 4% |
| Europe | 10% | 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, 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
