CIX:CC - CI Financial Reports Total Assets of $489.1 Billion for June 2024
All financial amounts in Canadian dollars unless stated otherwise.
CI Financial Corp . (“CI”) (TSX: CIX) today reported preliminary total assets of $489.1 billion as at June 30, 2024, consisting of asset management assets of $130.1 billion, Canadian wealth management assets of $95.6 billion, Canadian custody assets of $29.4 billion, and U.S. wealth management assets of $234.1 billion.
| CI FINANCIAL CORP. June 30, 2024 PRELIMINARY MONTH-END ASSETS (C$ Billions) |
| ENDING ASSETS |
| June 2024 |
| May 2024 |
| % Change |
| June 2023 |
| % Change |
| Asset management (1) |
| $130.1 |
| $129.5 |
| 0.5% |
| $122.4 |
| 6.3% |
| Canada wealth management |
| $95.6 |
| $94.1 |
| 1.7% |
| $82.6 |
| 15.8% |
| Canada custody (2) |
| $29.4 |
| $28.6 |
| 2.5% |
| $9.1 |
| 220.8% |
| U.S. wealth management (3) |
| $234.1 |
| $230.1 |
| 1.7% |
| $194.0 |
| 20.7% |
| TOTAL ASSETS |
| $489.1 |
| $482.2 |
| 1.4% |
| $408.1 |
| 19.9% |
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| U.S. wealth management from above in USD (3) |
| $171.1 |
| $168.8 |
| 1.4% |
| $146.5 |
| 16.8% |
| ASSET MANAGEMENT – AVERAGE AUM |
| June 2024 |
| May 2024 |
| March 2024 |
| Fiscal 2023 |
| % Change |
| Monthly average |
| $130.3 |
| $129.3 |
| - |
| - |
| 0.7% |
| Quarter-to-date average |
| $129.2 |
| - |
| $126.8 |
| - |
| 1.9% |
| Year-to-date average |
| $128.0 |
| - |
| - |
| $122.0 |
| 4.9% |
| PRELIMINARY QUARTER-END SALES RESULTS (C$ Billions) |
| Asset Management |
| 2Q24 |
| 1Q24 |
| 4Q23 |
| 3Q23 |
| 2Q23 |
| Canadian retail |
| $ (0.3) |
| $ (1.3) |
| $ (0.4) |
| $ (0.1) |
| - |
| Canadian institutional |
| $ (0.0) |
| $ 0.0 |
| - |
| $ (0.1) |
| - |
| Australian asset management |
| $ (0.0) |
| $ (0.1) |
| $ 0.2 |
| $ (0.1) |
| $ 0.1 |
| Closed business |
| $ (0.2) |
| $ (0.2) |
| $ (0.2) |
| $ (0.2) |
| $ (0.2) |
| Asset management segment |
| $ (0.6) |
| $ (1.6) |
| $ (0.4) |
| $ (0.5) |
| $ (0.1) |
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| U.S. asset management (4) |
| $ 0.7 |
| $ 0.1 |
| $ (0.1) |
| - |
| $ (0.3) |
| PRELIMINARY ASSET MANAGEMENT SEGMENT FEE RATE |
|
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| 2Q24 |
| 1Q24 |
| 4Q23 |
| 3Q23 |
| 2Q23 |
| Net management fees/average AUM (bps) |
| 80.4 |
| 81.0 |
| 81.2 |
| 83.8 |
| 84.6 |
- Includes $34.7 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 June 30, 2024 ($34.0 billion at May 31, 2024 and $32.8 billion at June 30, 2023).
- Includes $25.6 billion of assets advised by CI and held by clients of advisors with Assante, CIPC, CI Direct Investing and Aligned Capital as at June 30, 2024 ($25.0 billion at May 31, 2024 and $5.4 billion at June 30, 2023). 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 1.3680, 1.33629 and 1.3248 for June 2024, May 2024, and June 2023, 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, which operates in Australia.
- Canadian Wealth Management, which includes the operations of CI Assante Wealth Management, Aligned Capital Partners, CI Private Wealth, Northwood Family Office, Coriel Capital, 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/20240717280818/en/
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