CI Financial reports record assets under management
CI Financial has reported assets under management of USD95.1bn as of 28 February 2014, a new record for the company.
CI's assets under management grew by USD15.3bn or 19.1 per cent year over year and were up USD3.3bn or 3.6 per cent for the month of February.
Total assets were USD123.2bn at 28 February, representing growth of USD19.4bn or 18.7 per cent for the year and USD4.2bn or 3.5 per cent in February.
In comparison, the S&P/TSX Composite Total Return Index gained 14.3 per cent over the year and 3.9 per cent in February.
"February was exceptional for CI," says Stephen A MacPhail, CI president and chief executive officer. "Our net sales outpaced every February since 2000 and we achieved our best ever monthly asset growth, at USD3.3bn, reflecting good investment performance by our portfolio managers."
CI's assets under management as of 28 February 2014 were up USD6.6bn or 7.4 per cent from the average assets under management for the quarter ended 31 December 2013, and up USD11.8bn or 14.1 per cent over the average for fiscal 2013.
CI also reported assets under administration at Assante Wealth Management (Canada) Ltd. of USD28.1bn, an increase of 17.1 per cent year over year.
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