CI Financial Income Fund today reported assets under management of $69 billion and fee-earning assets of $96.5 billion as of September 30.
CI says these totals represent increases over a year ago of 18.4% and 26.8%, respectively.
CI Investments Inc. had gross sales of $660 million during the month and net sales of $134 million, including net sales of long-term funds of $114 million.
United Financial Corp. reported gross sales of $142 million and net redemptions of $14 million.
In total, CI had gross sales of $802 million and net sales of $120 million in September. For the year-to-date, CI reported gross sales of $8.9 billion and net sales of $1.6 billion.
“CI posted excellent asset growth during the month as equity markets recovered from their summer decline,” said President Stephen MacPhail. “Our retail sales have remained positive, even as the industry fell into net redemptions in August.”
CI’s assets under management at September 30, 2007 consisted of investment fund assets at CI Investments and United Financial of $64.8 billion, structured product assets of $727 million and $3.5 billion of institutional assets at KBSH Capital Management Inc. CI also reported administered and other assets of $27.5 billion, which included $16.4 billion in assets under administration at Assante Wealth Management (Canada) Ltd. (net of assets under management at United Financial), assets under administration at Blackmont Capital Inc. of $9.4 billion, and institutional assets at Trilogy Global Advisors, LLC that generate fees for CI.