All financial amounts in Canadian dollars unless stated otherwise.
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.
CI FINANCIAL CORP. | |||||
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 | - | - | $125.0 | -2.5% |
PRELIMINARY QUARTER-END NET SALES RESULTS (C$ billions) | |||||
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) |
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230419006075/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