The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from CNW Group

CI Financial reports assets under management

Tuesday, January 03, 2012

CI Financial reports assets under management18:12 EST Tuesday, January 03, 2012TSX Symbol: CIXTORONTO, Jan. 3, 2012 /CNW/ - CI Financial Corp. ("CI") today reported assets under management at December 31, 2011 of $69.5 billion and total assets of $91.0 billion.CI's assets under management declined 0.8% in the month of December and 4.5% for the year.  In comparison, the S&P/TSX Composite Index was down 1.7% in December and 8.8% in 2011. CI's average assets under management for fiscal 2011 were $72.2 billion, representing an increase of $6.5 billion or 9.8% over the average for fiscal 2010.CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $21.5 billion.In other developments, CI Investments Inc. is launching two new income funds this month as part of its commitment to provide a wide selection of investment solutions to meet the diverse needs of Canadian investors. The new funds are Cambridge Income Fund, which invests in a mix of fixed-income and high-yield equity securities, and Signature High Yield Fund, which focuses on high-yield corporate bonds. Both funds will be available in CI Corporate Class versions as Cambridge Income Corporate Class and Signature High Yield Corporate Class, respectively.Cambridge Income Fund is the first income mandate managed by CI's Cambridge Advisors portfolio management team. The lead portfolio manager is Robert Swanson, a veteran portfolio manager who joined Cambridge in September. Cambridge Advisors has achieved excellent results in its family of funds, with one example being Cambridge Canadian Asset Allocation Corporate Class, the top-performing fund in its category over the one and three years ending November 30, 2011* (Source: Morningstar PALTrak).CI is scheduled to release its financial results for the quarter and year ended December 31, 2011 on February 16, 2012.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.December 31, 2011PRELIMINARY MONTH-END STATISTICSENDING ASSETS Dec. 31/11(millions)Nov. 30/11(millions)%ChangeDec. 31/10(millions)%ChangeAssets under management$69,512$70,080-0.8%$72,825-4.5%Assets under administration*21,50021,652-0.7%22,497-4.4%TOTAL$91,012$91,732-0.8%$95,322-4.5%MONTHLY AVERAGEASSETS UNDER MANAGEMENTDec. 31/11(millions)Nov. 30/11(millions)%ChangeMonthly average$69,336$69,720-0.6%QUARTERLY AVERAGE ASSETS UNDER MANAGEMENTDec. 31/11(millions)Sept. 30/11(millions)%ChangeQuarterly average$69,314$70,823-2.1%FISCAL AVERAGEASSETS UNDER MANAGEMENTFiscal 2011 (millions)Fiscal 2010 (millions)% ChangeFiscal year average$72,177$65,7199.8%EQUITYFINANCIAL POSITION(millions)Total outstanding shares283,567,039Debt outstanding$783QTD weighted avg. shares284,457,360Net debt outstanding$736Yield at $21.104.3%  In-the-money options2,624,652Terminal redemption value of funds $783Percentage of all options44%  All options % of shares2.1%  * Includes CI and United Financial funds administered by Assante advisors.ESTIMATED GEOGRAPHIC EXPOSURE OF AUMCanada51%Asia3%United States22%Other4%Europe9%Cash11%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.* As of November 30, 2011, Cambridge Canadian Asset Allocation Corporate Class (Class A) had compound annual returns of 1 year: 3.2%, 2 years: 7.5%, 3 years: 11.8% and since inception: 2.7% (December 2007). Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the prospectus before investing. The indicated rates of return are the historical annual compounded total returns including changes in unit value and reinvestment of all distributions and do not take into account sales, redemption, distribution or optional charges or income taxes payable by any unitholder that would have reduced returns.  Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.  For further information: Stephen A. MacPhail President and Chief Executive Officer CI Financial (416) 364-1145