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CI sees net redemptions of $21-million in October

CI Fund Management Inc.'s CI Mutual Funds Inc. unit had net redemptions of $21-million last month, $10-million from long-term funds and about $11-million from money market funds. These totals include the Synergy Asset Management Inc. funds which were acquired in October and added $1.575-billion in mutual fund assets to the Toronto-based company. CI's mutual and segregated fund assets rose by 8.1 per cent to $32.1-billion, while total fee-earning assets rose 7.6 per cent to $37.5-billion, CI said. The company added that it is continuing to examine the merits of converting itself to an income trust structure. No formal proposal has been made to CI's board nor have any decisions been made by CI management.

© 2007 The Globe and Mail. All rights reserved.

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