CI Financial reports assets under management

TSX Symbol: CIX

TORONTO, Nov. 2, 2017 /CNW/ - CI Financial Corp. ("CI") today reported preliminary assets under management at October 31, 2017 of $143.8 billion and total assets of $185.8 billion.

Assets under management grew by $31.6 billion or 28.2% year over year, and increased 18.2% in the month of October, largely reflecting the acquisition of Sentry Investments Corp., which was completed on October 2. Total assets gained $36.4 billion or 24.4% for the 12-month period and grew by 14.3% in the month of October.

CI's average assets under management for the quarter-to-date were $141.2 billion, versus $120.3 billion for the third quarter of 2017. Average assets under management for the year-to-date were $122.9 billion, a gain of $12.0 billion or 10.8% from the average for fiscal 2016.

CI reported assets under advisement at Assante Wealth Management (Canada) Ltd. and Stonegate Private Counsel of $42.0 billion at October 31, 2017, representing an increase of $4.8 billion or 12.9% year over year.

On November 1, CI announced it has completed its acquisition of BBS Securities Inc. and associated entities. This acquisition includes Pario Technology Corp., a financial technology company, and Virtual Brokers, a top-ranked online brokerage.

CI is scheduled to release its financial results for the third quarter of 2017 on November 9, 2017 on CNW Group and www.cifinancial.com.

Additional information about CI's assets and financial position can be found below in the tables of 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.

* 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., Sentry Investments Inc., Assante Wealth Management (Canada) Ltd., Stonegate Private Counsel, Grant Samuel Funds Management Pty Ltd. of Australia, First Asset Investment Management Inc., and BBS Securities Inc. Further information is available at www.cifinancial.com.

SOURCE CI Financial Corp.