TORONTO (January 3, 2019) - CI Financial Corp. (“CI”) (TSX: CIX) today reported preliminary assets under management at December 31, 2018 of $124.6 billion and total assets of $166.1 billion.
Assets under management decreased by 4.4% in the month of December and by 12.9% year over year. Total assets decreased by 4.3% for the month of December and by 10.6% for the 12-month period ended December 31. This reflects broader market returns for December. During the month, the S&P/TSX Composite index declined 5.4% and the S&P 500 Index was down 6.8% in Canadian dollars.
CI’s average assets under management for the fourth quarter were $129.3 billion, versus $138.3 billion for the third quarter of 2018. Average assets under management for the fiscal year were $137.2 billion, a gain of $10.9 billion or 8.6% from the average for fiscal 2017.
CI reported assets under advisement at Assante Wealth Management (Canada) Ltd. and Stonegate Private Counsel of $41.5 billion at December 31, 2018, representing a decrease of 2.8% year over year.
CI is scheduled to release its financial results for the fourth quarter and fiscal year 2018 on February 8, 2019 on cifinancial.com.
Further information about CI’s assets and financial position can be found below in the tables of statistics and on its website, www.cifinancial.com. These are the only statistics authorized by CI, and CI takes no responsibility for reporting by any external sources.
|
CI FINANCIAL CORP.
December 31, 2018
PRELIMINARY MONTH-END STATISTICS
|
| ENDING ASSETS |
Dec. 31/18 (billions) |
Nov. 30/18 (billions) |
%
Change
|
Dec. 31/17 (billions) |
%
Change
|
| Assets under management |
$124.6 |
$130.4 |
-4.4% |
$143.0 |
-12.9% |
| Assets under advisement1 |
41.5 |
43.1 |
-3.7% |
42.7 |
-2.8% |
| TOTAL |
$166.1 |
$173.5 |
-4.3% |
$185.7 |
-10.6% |
|
MONTHLY AVERAGE
ASSETS UNDER MANAGEMENT
|
Dec. 31/18
(billions)
|
Nov. 30/18
(billions)
|
%
Change
|
| Monthly average |
$125.9 |
$129.9 |
-3.1% |
|
FISCAL QUARTER AVERAGE
ASSETS UNDER MANAGEMENT
|
Ending Dec. 31/18
(billions)
|
Ending Sept. 30/18
(billions)
|
%
Change
|
| Fiscal quarter average |
$129.3 |
$138.3 |
-6.5% |
|
FISCAL YEAR AVERAGE
ASSETS UNDER MANAGEMENT
|
Fiscal 2018
(billions)
|
Fiscal 2017
(billions)
|
%
Change
|
| Fiscal year average |
$137.2 |
$126.3 |
8.6% |
|
EQUITY
(millions)
|
FINANCIAL POSITION
(millions)
|
| Total outstanding shares |
243.5 |
Debt outstanding |
$1,509 |
| QTD weighted avg. shares |
246.8 |
Net debt outstanding |
$1,267 |
| Current Yield |
4.2% |
Terminal redemption value of funds |
$356 |
1 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 company offering global asset management and wealth management advisory services. Its primary operating businesses are CI Investments Inc., Assante Wealth Management (Canada) Ltd., CI Private Counsel LP, Grant Samuel Funds Management Pty Ltd. of Australia, First Asset Investment Management Inc., and BBS Securities Inc. Further information is available atwww.cifinancial.com.
For further information:
Investor Relations
CI Financial Corp.
(416) 364-1145