CI Fund Management Inc. is reporting higher profit for the third quarter ended February 29.

Net income was $87 million, or 29¢ a share, compared with $21.7 million, or 9¢, in the year-before period.

In a news release, the firm said strength in equity markets propelled revenues higher.

Revenues during the quarter were $255 million, up 70% from $149.6 million a year earlier.

The addition of assets from Skylon Capital Corp., Synergy Asset Management and the Canadian operations of financial planner Assante Corp. also bolstered revenues.

Total fee-earning assets climbed 94% to $62 billion from $32 billion, helped by the recent acquisitions.