All financial amounts in Canadian dollars unless stated otherwise.
CI Financial Corp . (“CI”) (TSX: CIX) today reported preliminary total assets of $400.9 billion as at May 31, 2023, representing a record for the firm. Total assets consisted of asset management assets of $120.8 billion, Canadian wealth management assets of $81.1 billion, and U.S. wealth management assets of $198.9 billion.
As previously reported, CI acquired Avalon Advisors, LLC of Houston, a registered investment advisor managing approximately US$8.2 billion in client assets, effective May 1, 2023. The firm is now operating as CI Avalon Private Wealth.
CI FINANCIAL CORP. May 31, 2023 PRELIMINARY MONTH-END ASSETS (C$ Billions) | |||||
ENDING ASSETS | May 2023 | April 2023 | % Change | May 2022 | % Change |
Asset management (1) | $120.8 | $123.4 | -2.1% | $124.3 | -2.8% |
Canada wealth management | $81.1 | $82.6 | -1.8% | $78.2 | 3.7% |
U.S. wealth management (2) | $198.9 | $188.9 | 5.3% | $147.2 | 35.1% |
TOTAL ASSETS | $400.9 | $394.9 | 1.5% | $349.6 | 14.7% |
ASSET MANAGEMENT – AVERAGE AUM | May 2022 | April 2023 | March 2023 | Fiscal | % Change |
Monthly average | $122.1 | $122.6 | - | - | -0.4% |
Quarter-to-date average | $122.3 | - | $121.9 | - | 0.3% |
Year-to-date average | $122.1 | - | - | $125.0 | -2.3% |
- Includes $32.5 billion of assets managed by CI and held by clients of advisors with Assante, CIPC and Aligned Capital as at May 31, 2023 ($33.2 billion at April 30, 2023 and $32.7 billion at May 31, 2022).
- Month-end USD/CAD exchange rates of 1.3575, 1.3548 and 1.2648 for May 2023, April 2023 and May 2022, respectively.
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 (U.S.), 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/20230621649765/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