CI Financial Income Fund today reported a 52% profit jump in the third quarter as mutual fund assets under management rose.

For the three month period ended September 30, CI reported net income of $138.4 million, or 49¢ per unit, compared to $91 million, or 32¢, per share for the three month period ended Aug. 31, 2005.

Assets under management at the mutual fund company totalled $58.3 billion as of Sept. 30. CI’s mutual fund assets under management grew 19% during the 12 month period ended Oct. 31, making the company the industry’s third best performer behind the fund operations of the Royal Bank of Canada and the Bank of Montreal.

Sales were flat with the company reporting $336.9 million in revenue for the quarter ended Sept. 30 compared to $333.2 million for the 2005 period ended Aug. 31. The 2005 sales include a $16.7 million gain on the sale of shares of U.K. fund company Amvescap PLC and a $29 million recovery of fund expenses.

CI converted to an income trust in June and changed its fiscal year end from May 31 to Dec. 31. The company’s financial results compare trust to corporate performance and included four month results for the period ended Sept. 30, 2006.