Toronto-based CI Financial Corp. reached a new monthly record for assets under management (AUM) in August 2013, the company announced on Tuesday.
CI reported $83.8 billion in AUM as of August 31, 2013 and $108.8 billion in total assets. The company’s AUM for August represents a growth of $2.1 billion, 2.6%, over the average AUM for the second quarter of 2013 as well as an increase of $11.2 billion, 15.4% over the average for fiscal 2012.
“CI has continued to post strong sales through the summer, thanks to good fund performance and a diverse and appealing product line-up,” said Stephen MacPhail, president, chief executive officer, CI Financial, in a release.
As well, Assante Wealth Management (Canada) Ltd. reported assets under administration of $25 billion as of August 31, 2013, reported CI, a 12.7% increase year over year. CI Financial is the parent company of Assante.