CI Financial Income Fund today reported net sales of $265 million in May 2008, and assets under management of $69.6 billion and total fee-earning assets of $105.1 billion as of May 31, 2008.

During the month, retail assets under management grew by $1.67 billion or 2.6% to $66.8 billion. This represents a gain of $2.6 billion or 4.1% for the year-to-date.

In May, CI subsidiaries CI Investments Inc. and United Financial Corp. had combined gross retail sales of $988 million and net sales of $265 million, consisting of $219 million in long-term funds and $46 million in money market funds.

“It was an excellent month for sales and asset growth,” says Stephen MacPhail, CI President. “The sales momentum of the RSP season has continued into the slower spring months, a tribute to the strength and depth of our product lineup.”

Since February 1, 2008, CI has achieved $1.4 billion in net sales and experienced an increase in retail assets under management of $5.3 billion or 9%.

Support for the Cambridge Funds, launched in January 2008, continues to build, with the funds reaching over $50 million in net sales in May.

In May, the SunWise Elite Plus segregated funds with the Guaranteed Minimum Withdrawal Benefit (GMWB), a rider that offers investors a guaranteed retirement income, surpassed $1 billion in assets under management. SunWise Elite Plus with the GMWB, offered in partnership with Sun Life Financial, was launched in April 2007 and enhanced in March 2008 with a lifetime withdrawal option.

CI’s assets under management at May 31, consisted of investment funds at CI Investments and United Financial of $66.2 billion, institutional assets at KBSH Capital Management Inc. of $2.8 billion and structured product assets of $553 million.

CI also reported assets under administration of $34 billion, which consisted of $24.3 billion in assets under administration at Assante Wealth Management (Canada) Ltd. and $9.7 billion in assets under administration at Blackmont Capital Inc.