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Press release from CNW Group

CI Financial reports growth in assets under management

Tuesday, August 07, 2012

CI Financial reports growth in assets under management13:57 EDT Tuesday, August 07, 2012TSX Symbol: CIXTORONTO, Aug. 7, 2012 /CNW/ - CI Financial Corp. ("CI") today reported assets under management of $71.7 billion and total assets of $93.7 billion as of July 31, 2012.Assets under management grew by 0.2% for the month of July and 3.1% for the year-to-date. Average assets under management for the year-to-date at July 31, 2012 were $71.8 billion, compared to an average of $72.2 billion for the 2011 fiscal year.CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of $22.0 billion at July 31, 2012."We were very pleased with our growth in July," said Stephen A. MacPhail, CI President and Chief Executive Officer. "CI's fund performance is exceptional, with 81% of assets ranked first or second quartile for the year-to-date as of June 30 and 84% ranked first or second quartile over 10 years.* This is being reflected positively in fund sales and contributes to CI's strong positioning."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 will release its financial results for the second quarter of fiscal 2012 on Thursday, August 9, 2012, on Canada Newswire and www.cifinancial.com.CI FINANCIAL CORP.July 31, 2012PRELIMINARY MONTH-END STATISTICSENDING ASSETS July 31/12(millions)June 30/12(millions)%ChangeJuly 31/11 (millions)%ChangeAssets under management$71,689$71,5590.2%$72,942-1.7%Assets under administration**22,03521,9600.3%22,573-2.4%TOTAL$93,724$93,5190.2%$95,515-1.9%MONTHLY AVERAGEASSETS UNDER MANAGEMENTJuly 31/12 (millions)June 30/12 (millions)% ChangeMonthly average$71,507$70,5661.3%QUARTERLY AVERAGE ASSETS UNDER MANAGEMENTJuly 31/12 (millions)June 30/12 (millions)% ChangeQuarterly average$71,507$71,3850.2%FISCAL AVERAGEASSETS UNDER MANAGEMENTFiscal 2012 (millions)Fiscal 2011 (millions)% ChangeFiscal year average$71,778$72,186-0.6%EQUITYFINANCIAL POSITION(millions)        Total outstanding shares283,354,992Debt outstanding$750QTD weighted avg. shares283,354,992Net debt outstanding$619Current Yield4.3%  Potential share dilution from options603,932Terminal redemption value of funds $796All options % of shares2.4%      ** Includes CI and United Financial funds administered by Assante advisors.ESTIMATED GEOGRAPHIC EXPOSURE OF AUMCanada      51%Asia       3%United States      22%Other       4%Europe      9%Cash       11%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.cifinancial.com.* Source: Morningstar PALTrak, CI.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. Commissions, trailing commissions, management fees and expenses may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.SOURCE: CI Investments Inc.For further information: Stephen A. MacPhail President and Chief Executive Officer CI Financial (416) 364-1145