CI Financial Corp. Thursday reported gross sales of $1.06 billion and net sales of $472 million in June.

Assets under management increased by $1.4 billion or 2.3% over the month to $60.1 billion at June 30, 2009. Total fee-earning assets were $87.3 billion, an increase of $1.5 billion or 1.7%. This marked the fourth consecutive month of asset growth for CI.

CI subsidiaries CI Investments Inc. and United Financial Corp. had combined retail net sales of $500 million in long-term funds and net redemptions of $28 million in money market funds in June.

“CI has established a broad and diverse product lineup with strong relative performance that has resulted in consistent sales. That trend has continued in 2009, with gross sales of $4.5 billion for the year-to-date,” said Stephen MacPhail, CI president, in a release.

“Several institutional relationships at CI Investments made significant contributions to the June sales, including a new relationship that was established during the month,” CI said.

As of June 30, 2009, assets under management consisted of investment funds at CI Investments and United Financial of $55.6 billion, institutional assets of $4.1 billion and structured product assets of $463 million.

CI also reported assets under administration of $26.3 billion, which consisted of $19.2 billion in assets under administration at Assante Wealth Management (Canada) Ltd. and $7.1 billion in assets under administration at Blackmont Capital Inc. Other fee-earning assets totalled $796 million.

IE