CI Financial Income Fund reported on Friday assets under management of $70.2 billion and fee-earning assets of $99.5 billion at May 31. During the month, CI had gross sales of $1.1 billion and net sales of $293 million.

CI’s assets under management increased $1.2 billion or 1.7% over the month and fee-earning assets were up $1.2 billion or 1.3%. These asset levels represent a new month-end record for the company.

Assets under management consisted of investment fund assets at CI Investments Inc. and United Financial Corporation of $65.7 billion and other assets under management of $4.5 billion, representing CI’s structured products and assets at KBSH Capital Management Inc. and Lakeview Asset Management Inc. CI’s administered/other assets of $29.4 billion included $17.6 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 $10.0 billion, as well as institutional assets at Trilogy Global Advisors, LLC that generate fees for CI.

During May, CI Investments had gross sales of $961 million and net sales of $293 million, comprised of $231 million in net sales of long-term funds and $62 million of money market funds. United Financial had gross sales of $139 million and redemptions of $139 million. For the year-to-date, CI had gross sales of $5.5 billion and net sales of $1.3 billion.

Morningstar Canada announced in May that CI Investments continued to lead the industry with 40 mutual and segregated funds holding the top five-star rating at April 30.