All financial amounts in Canadian dollars unless stated otherwise.
Company Website:
http://www.cifinancial.com
TORONTO -- (Business Wire)
CI Financial Corp. (“CI”) (TSX: CIX) today reported preliminary total assets of $421.0 billion as at September 30, 2023, consisting of asset management assets of $119.0 billion, Canadian wealth management assets of $81.5 billion, Canadian custody assets of $23.4 billion, and U.S. wealth management assets of $197.0 billion.
CI FINANCIAL CORP. September 30, 2023 PRELIMINARY MONTH-END ASSETS (C$ Billions) |
ENDING ASSETS | September 2023 | August 2023 | % Change | September 2022 | % Change |
Asset management (1) |
$119.0
|
$122.7
|
-3.0%
|
$114.2
|
4.2%
|
Canada wealth management
|
$81.5
|
$83.7
|
-2.6%
|
$74.0
|
10.1%
|
Canada custody (2) |
$23.4
|
$23.9
|
-2.1%
|
$6.6
|
254.5%
|
U.S. wealth management (3) |
$197.0
|
$201.6
|
-2.3%
|
$149.8
|
31.5%
|
TOTAL ASSETS | $421.0 | $431.9 | -2.5% | $344.6 | 22.2% |
ASSET MANAGEMENT – AVERAGE AUM | September 2023 | August 2023 | June 2023 | Fiscal
2022 | % Change |
Monthly average
|
$121.2
|
$122.2
|
-
|
-
|
-0.8%
|
Quarter-to-date average
|
$122.1
|
-
|
$122.1
|
-
|
0.0%
|
Year-to-date average
|
$122.0
|
-
|
-
|
$125.0
|
-2.4%
|
PRELIMINARY QUARTER-END NET SALES RESULTS (C$ billions) |
Asset Management | 3Q23 | 2Q23 | 1Q23 | 4Q22 | 3Q22 |
Canadian retail
|
($0.1)
|
$0.0
|
$0.8
|
$1.6
|
$0.6
|
Canadian institutional
|
($0.1)
|
$0.0
|
($0.2)
|
($0.2)
|
($0.0)
|
Australian asset management
|
($0.1)
|
$0.1
|
($0.1)
|
$0.0
|
($0.4)
|
Closed business
|
($0.2)
|
($0.2)
|
($0.2)
|
($0.2)
|
($0.1)
|
Asset management segment | ($0.4) | ($0.1) | $0.4 | $1.3 | $0.1 |
U.S. asset management (4) |
$0.0
|
($0.3)
|
($0.1)
|
$0.6
|
($0.0)
|
PRELIMINARY ASSET MANAGEMENT SEGMENT FEE RATE |
| 3Q23 | 2Q23 | 1Q23 | 4Q22 | 3Q22 |
Net management fees/average AUM (bps)
|
83.8
|
84.7
|
86.0
|
87.2
|
88.0
|
- Includes $31.8 billion of assets managed by CI and held by clients of advisors with CI Assante Wealth Management, CI Private Counsel (CIPC) and Aligned Capital Partners as at September 30, 2023 ($33.0 billion at August 31, 2023 and $30.4 billion at September 30, 2022).
- Includes $19.7 billion of assets advised by CI and held by clients of advisors with Assante, CIPC, CI Direct Investing and Aligned Capital as at September 30, 2023 ($20.1 billion at August 31, 2023 and $4.2 billion at September 30, 2022). Prior to July 2023, custody assets were historically not included as part of reported assets for Canada wealth management or consolidated total assets.
- Month-end USD/CAD exchange rates of 1.3582, 1.3512 and 1.3813 for September 2023, August 2023 and September 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 Corient Private Wealth, an integrated wealth management firm providing comprehensive solutions to ultra-high-net-worth and high-net-worth clients across the United States.
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231022183818/en/
Contacts:
Investor Relations
Jason Weyeneth, CFA
Vice-President, Investor Relations & Strategy
416-681-8779
jweyeneth@ci.com
Media Relations
Canada
Murray Oxby
Vice-President, Corporate Communications
416-681-3254
moxby@ci.com
United States
Jimmy Moock
Managing Partner, StreetCred
610-304-4570
jimmy@streetcredpr.com
ci@streetcredpr.com
Source: CI Financial Corp.
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