The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Press release from CNW Group

CI Financial reports asset growth of 2.5% in February

Thursday, March 01, 2012

CI Financial reports asset growth of 2.5% in February17:14 EST Thursday, March 01, 2012TSX Symbol: CIXTORONTO, March 1, 2012 /CNW/ - CI Financial Corp. ("CI") today reported assets under management at February 29, 2012 of $73.3 billion, an increase of $1.8 billion or 2.5% for the month of February.Total assets were $96.0 billion, up $2.3 billion or 2.5% over the month. CI's assets under management at February 29, 2012 represented a gain of $3.9 billion or 5.6% over the average for the fourth quarter of 2011.CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $22.7 billion.During February, CI acquired a significant minority interest in Lawrence Park Capital Partners Ltd., an alternative asset manager focusing on fixed-income strategies. CI is also making an investment in its Lawrence Park Credit Strategies Fund.It was also announced in February that funds managed by CI Investments Inc. were the recipients of eight 2012 Lipper Fund Awards, which honour funds that have excelled in delivering consistently strong risk-adjusted performance, relative to peers. CI's winning funds were Cambridge Canadian Asset Allocation Corporate Class, Signature High Income Fund, Portfolio Series Income Fund and CI Japanese Corporate Class.In reporting its fiscal results on February 16, CI also announced that it is increasing its dividend by 7% to $0.08 per share per month, effective March 15, 2012.Additional information about CI's assets and financial position can be found below in the tables of preliminary statistics and on its website,, 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 29, 2012PRELIMINARY MONTH-END STATISTICSENDING ASSETS Feb. 29/12(millions)Jan. 31/12(millions)%ChangeFeb. 28/11 (millions)%ChangeAssets under management$73,250$71,4572.5%$75,234-2.6%Assets under administration*22,70622,1682.4%23,324-2.6%TOTAL$95,956$93,6252.5%$98,558-2.6%MONTHLY AVERAGEASSETS UNDER MANAGEMENTFeb. 29/12 (millions)Jan. 31/12 (millions)% ChangeMonthly average$72,666$70,8752.5%QUARTERLY AVERAGE ASSETS UNDER MANAGEMENTFeb. 29/12 (millions)Dec. 31/11(millions)% ChangeQuarterly average$71,740$69,3493.4%FISCAL AVERAGEASSETS UNDER MANAGEMENTFiscal 2012 (millions)Fiscal 2011 (millions)% ChangeFiscal year average$71,740$72,186-0.6%                    EQUITY     FINANCIAL POSITION(millions)   Total outstanding shares  283,726,332  Debt outstanding  $770QTD weighted avg. shares  283,689,957  Net debt outstanding  $674Current yield  4.4%      In-the-money options  4,804,687  Terminal redemption value of funds   $776Percentage of all options  67%      All options % of shares  2.5%      * Includes CI and United Financial funds administered by Assante advisors.ESTIMATED GEOGRAPHIC EXPOSURE OF AUMCanada 51%Asia3%United States 22%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 further information: Stephen A. MacPhail President and Chief Executive Officer CI Financial (416) 364-1145