(January 3 – 18:30 ET) – C.I. Mutual Funds Inc. today reported net sales of $6.5 billion for the year 2000, an industry record. Net sales for the year soared 114% over net sales for 1999.

“This was an exciting year for C.I. with net sales of $1 billion more than our nearest competitor,” said Stephen MacPhail, executive vice-president and COO of C.I. Fund Management Inc., C.I.’s parent company.

For calendar 2000, C.I.’s mutual fund assets increased 28% — well in excess of market returns — to reach $23.8 billion. C.I.’s total fee-earning assets increased 34% during the year to $28.7 billion. This total includes institutional assets managed by C.I.’s U.S. subsidiaries, which increased 96% to $3.6 billion.

Net sales in December were a strong $209 million, although down from November. C.I.’s overall assets increased in December, a result of net sales, market performance and increased institutional assets.

Sales were widely diversified, with a majority of C.I. funds posting net sales during the month. MacPhail said C.I.’s sales have been driven by its extensive lineup of strong-performing funds, especially global and North American funds.
-IE Staff