Mr. Murray Oxby reports

CI FINANCIAL REPORTS TOTAL ASSETS OF $398.9 BILLION FOR JUNE 2023

CI Financial Corp. had preliminary total assets of $398.9-billion as at June 30, 2023, consisting of: asset management assets of $122.4-billion; Canadian wealth management assets of $82.6-billion; and United States wealth management assets of $194-billion.

In June, CI completed the previously announced sale of its minority stake in Boston-based Congress Wealth Management LLC, which was held through CI's U.S. subsidiary, CI Private Wealth LLC (CIPW). Also during the month, CIPW completed the acquisition of La Ferla Group LLC, a registered investment advisory firm based in Garden City, N.Y., with offices in Bethesda, Md., and Macon, Ga. As a result, the change in CI's U.S. wealth management assets reflects the sale of Congress, offset by the addition of La Ferla and organic growth.

CI also reported preliminary net sales results for its asset management businesses for the second quarter of 2023, as well as the preliminary fee rate for the Canadian asset management business. Canadian retail had slightly positive net sales for the quarter and positive net sales of $800-million for the first half of the year. CI's overall asset management segment had net redemptions of $100-million in the second quarter and net sales of $300-million for the first half of 2023.

About CI Financial Corp.

CI Financial 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 (U.S.), an integrated wealth management firm providing comprehensive solutions to ultrahigh-net-worth and high-net-worth clients across the United States.