All financial amounts in Canadian dollars unless stated otherwise.
TORONTO–(BUSINESS WIRE)–$CIX #CIFinancial—CI Financial Corp. (“CI”) (TSX: CIX) today reported preliminary total assets of $391.1 billion as at March 31, 2023, consisting of asset management assets of $122.0 billion, Canadian wealth management assets of $81.6 billion, and U.S. wealth management assets of $187.5 billion.
CI also reported preliminary net sales results for its asset management businesses for the first quarter of 2023. CI’s Canadian retail business had net sales of $0.8 billion, representing the third consecutive quarter of positive net sales. CI’s overall net sales were $0.3 billion for the quarter.
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CI FINANCIAL CORP. |
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ENDING ASSETS |
March |
February |
% Change |
March |
% Change |
|
Asset management (1) |
$122.0 |
$121.9 |
0.1% |
$136.3 |
-10.5% |
|
Canada wealth management |
$81.6 |
$81.1 |
0.6% |
$79.0 |
3.3% |
|
U.S. wealth management (2) |
$187.5 |
$186.2 |
0.7% |
$145.8 |
28.6% |
|
TOTAL ASSETS |
$391.1 |
$389.2 |
0.5% |
$361.0 |
8.3% |
|
ASSET MANAGEMENT – AVERAGE AUM |
March |
February |
December |
Fiscal |
% Change |
|
Monthly average |
$121.2 |
$123.1 |
– |
– |
-1.5% |
|
Quarter-to-date average |
$121.9 |
– |
$117.7 |
– |
3.6% |
|
Year-to-date average |
$121.9 |
– |
– |
$125.0 |
-2.5% |
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PRELIMINARY QUARTER-END NET SALES RESULTS (C$ billions) |
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ASSET MANAGEMENT |
1Q23 |
4Q22 |
3Q22 |
2Q22 |
1Q22 |
|
Canadian retail |
$0.8 |
$1.6 |
$0.6 |
($0.4) |
($0.9) |
|
Canadian institutional |
($0.2) |
($0.2) |
($0.0) |
($3.2) |
($0.3) |
|
Australian asset management |
($0.1) |
$0.0 |
($0.4) |
($0.1) |
($0.3) |
|
Closed business |
($0.2) |
($0.2) |
($0.1) |
($0.2) |
($0.2) |
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TOTAL ASSET MANAGEMENT SEGMENT |
$0.4 |
$1.3 |
$0.1 |
($3.9) |
($1.6) |
|
U.S. asset management (3) |
($0.1) |
$0.6 |
($0.0) |
($0.2) |
$0.4 |
- Includes $33.0 billion of assets managed by CI and held by clients of advisors with Assante, CIPC and Aligned Capital as at March 31, 2023 ($32.9 billion at February 28, 2023 and $34.5 billion at March 31, 2022).
- Month-end USD/CAD exchange rates of 1.3515, 1.3645 and 1.2505 for March 2023, February 2023 and March 2022, respectively.
- Includes 100% of inflows from CI’s minority investments in Columbia Pacific Advisors, OCM Capital Partners, The Cabana Group, and GLASfunds Holdings.
About CI Financial
CI Financial Corp. is a diversified global asset and wealth management company operating primarily in Canada, the United States and Australia. Founded in 1965, CI has developed world-class portfolio management talent, extensive capabilities in all aspects of wealth planning, and a comprehensive product suite.
CI operates in three segments:
- Asset Management, which includes CI Global Asset Management, which operates in Canada, and GSFM Pty Ltd., which operates in Australia.
- Canadian Wealth Management, which includes the operations of CI Assante Wealth Management, Aligned Capital Partners, CI Private Wealth (Canada), Northwood Family Office, CI Direct Investing and CI Investment Services.
- U.S. Wealth Management, which includes CI Private Wealth US, a national network of best-in-class wealth management teams.
CI is headquartered in Toronto and listed on the Toronto Stock Exchange (TSX: CIX). To learn more, visit CI’s website or LinkedIn page.
CI Global Asset Management is a registered business name of CI Investments Inc., a wholly owned subsidiary of CI Financial Corp.
Contacts
Investor Relations
Jason Weyeneth, CFA
Vice-President, Investor Relations & Strategy
416-681-8779
[email protected]
Media Relations
Canada
Murray Oxby
Vice-President, Corporate Communications
416-681-3254
[email protected]
United States
Jimmy Moock
Managing Partner, StreetCred
610-304-4570
[email protected]
[email protected]
