TSX Symbol: CIX
TORONTO, Sept. 2, 2014 /CNW/ - CI Financial Corp. ("CI") today reported assets under management at August 31, 2014 of $102.2 billion and total assets of $131.8 billion.
CI's assets under management grew by $18.4 billion or 21.9% year over year and were up $1.8 billion or 1.7% in the month of August, for the 14th consecutive month of asset growth. Total assets were up $23.0 billion or 21.2% for the year and $2.3 billion or 1.8% in August. Assets under management and total assets at August 31 were new month-end records for CI.
Assets under management at August 31, 2014 of $102.2 billion represented an increase of $4.3 billion or 4.4% over the average assets under management for the quarter ending June 30, 2014 and an increase of $18.9 billion or 22.6% over the average for fiscal 2013.
CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $29.6 billion at August 31, 2014, an increase of 18.6% year over year.
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. August 31, 2014 PRELIMINARY MONTH-END STATISTICS |
ENDING ASSETS | Aug. 31/14
(millions) | July 31/14
(millions) | %
Change | Aug. 31/13
(millions) | %
Change |
Assets under management | $102,182 | $100,427 | 1.7% | $83,810 | 21.9% |
Assets under administration* | 29,641 | 29,125 | 1.8% | 24,995 | 18.6% |
TOTAL | $131,823 | $129,552 | 1.8% | $108,805 | 21.2% |
MONTHLY AVERAGE ASSETS UNDER MANAGEMENT | Aug. 31/14
(millions) | July 31/14
(millions) | %
Change |
Monthly average | $101,000 | $100,399 | 0.6% |
FISCAL QUARTER AVERAGE ASSETS UNDER MANAGEMENT | Ending Aug. 31/14
(millions) | Ending June 30/14
(millions) | %
Change |
Fiscal quarter average | $100,700 | $97,895 | 2.9% |
FISCAL YEAR AVERAGE ASSETS UNDER MANAGEMENT | Ending Aug. 31/14
(millions) | Fiscal 2013
(millions) | %
Change |
Fiscal year average | $96,979 | $83,325 | 16.4% |
EQUITY | FINANCIAL POSITION (millions) |
Total outstanding shares | 283,337,448 | Debt outstanding | $500 |
QTD weighted avg. shares | 283,765,468 | Net debt outstanding | $222 |
Current Yield | 3.4% |
|
|
Potential share dilution from options | 1,079,118 | Terminal redemption value of funds | $746 |
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.
SOURCE CI Financial Corp.
Stephen A. MacPhail, President and Chief Executive Officer, CI Financial Corp., (416) 364-1145