CI Financial reports assets under management

TSX Symbol: CIX

TORONTO, Dec. 1, 2016 /CNW/ - CI Financial Corp. ("CI") today reported assets under management at November 30, 2016 of $117.0 billion and total assets of $154.6 billion.

Assets under management increased by $8.7 billion or 8.0% year over year and by $4.8 billion or 4.3% in the month of November. Total assets gained $11.7 billion or 8.2% for the 12-month period and were up $5.2 billion or 3.5% in November.

CI's assets now include the assets under management of Grant Samuel Funds Management ("GSFM") of Sydney, Australia, a firm in which CI acquired an 80% stake on November 15, 2016. GSFM is a leading manager and distributor of investment strategies and products in the Australian and New Zealand markets with assets under management in excess of A$6 billion.

CI's average assets under management for the quarter-to-date were $113.5 billion, versus $112.3 billion for the third quarter of 2016. Average assets under management for the year-to-date were $110.3 billion, a gain of $1.9 billion or 1.8% from the average for fiscal year 2015.

CI reported assets under advisement at Assante Wealth Management (Canada) Ltd. and Stonegate Private Counsel of $37.6 billion at November 30, 2016, representing an increase of $3.0 billion or 8.7% year over year and 1.1% for the month of November.

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. November 30, 2016 PRELIMINARY MONTH-END STATISTICS
ENDING ASSETS	Nov. 30/16 (billions)	Oct. 31/16  (billions)	% Change	Nov. 30/15 (billions)	% Change
Assets under management	$117.0	$112.2	4.3%	$108.3	8.0%
Assets under advisement*	37.6	37.2	1.1%	34.6	8.7%
TOTAL	$154.6	$149.4	3.5%	$142.9	8.2%

 

MONTHLY AVERAGE ASSETS UNDER MANAGEMENT	Nov. 30/16 (billions)	Oct. 31/16 (billions)	% Change
Monthly average	$114.9	$112.2	2.4%

 

FISCAL QUARTER AVERAGE ASSETS UNDER MANAGEMENT	Ending Nov. 30/16 (billions)	Ending Sept. 30/16 (billions)	% Change
Fiscal quarter average	$113.5	$112.3	1.1%

 

FISCAL YEAR AVERAGE ASSETS UNDER MANAGEMENT	Ending Nov. 30/16 (billions)	Fiscal 2015 (billions)	% Change
Fiscal year average	$110.3	$108.4	1.8%

 

EQUITY		FINANCIAL POSITION (millions)
Total outstanding shares	266,370,442	Debt outstanding	$768
QTD weighted avg. shares	266,917,087	Net debt outstanding	$594
Current Yield	5.2%
Potential share dilution from options	68,896	Terminal redemption value of funds	$539
All options % of shares	3.3%

* Includes assets managed by CI and held by clients of advisors with Assante and Stonegate Private Counsel.

CI Financial Corp. (TSX: CIX) is an independent, Canadian-owned wealth management company. Its primary operating businesses are CI Investments Inc., one of Canada's largest investment managers, advisory businesses Assante Wealth Management and Stonegate Private Counsel, Grant Samuel Funds Management of Australia, and First Asset Capital Corp., a leader in providing actively managed exchange-traded funds to the Canadian marketplace. CI is on the Web at www.cifinancial.com.

SOURCE CI Financial Corp.

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