All financial amounts in Canadian dollars unless stated otherwise.
CI Financial Corp . (“CI”) (TSX: CIX) today reported preliminary total assets of $474.2 billion as at March 31, 2024, consisting of asset management assets of $130.1 billion, Canadian wealth management assets of $93.7 billion, Canadian custody assets of $28.0 billion, and U.S. wealth management assets of $222.3 billion.
CI FINANCIAL CORP. March 31, 2024 PRELIMINARY MONTH-END ASSETS (C$ Billions) | |||||
ENDING ASSETS | March 2024 | February 2024 | % Change | March 2023 | % Change |
Asset management (1) | $130.1 | $128.0 | 1.6% | $122.0 | 6.7% |
Canada wealth management | $93.7 | $91.9 | 2.0% | $81.6 | 14.9% |
Canada custody (2) | $28.0 | $27.1 | 3.4% | $8.6 | 225.7% |
U.S. wealth management (3) | $222.3 | $218.9 | 1.6% | $187.5 | 18.6% |
TOTAL ASSETS | $474.2 | $465.9 | 1.8% | $399.7 | 18.6% |
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U.S. wealth management from above in USD (3) | $164.1 | $161.3 | 1.8% | $138.7 | 18.3% |
ASSET MANAGEMENT – AVERAGE AUM | March 2024 | February 2024 | December 2023 | Fiscal 2023 | % Change |
Monthly average | $129.3 | $126.4 | - | - | 2.3% |
Quarter-to-date average | $126.8 | - | $121.1 | - | 4.7% |
Year-to-date average | $126.8 | - | - | $121.9 | 4.0% |
PRELIMINARY QUARTER-END SALES RESULTS (C$ Billions) | |||||
Asset Management | 1Q24 | 4Q23 | 3Q23 | 2Q23 | 1Q23 |
Canadian retail | $ (1.3) | $(0.4) | $ (0.1) | - | $ 0.8 |
Canadian institutional | - | - | $ (0.1) | - | $ (0.2) |
Australian asset management | $(0.1) | $0.2 | $ (0.1) | $ 0.1 | $ (0.1) |
Closed business | $(0.2) | $(0.2) | $ (0.2) | $ (0.2) | $ (0.2) |
Asset management segment | $(1.6) | $(0.4) | (0.4) | (0.1) | 0.4 |
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U.S. asset management (4) | 0.1 | (0.1) | - | (0.3) | (0.1) |
PRELIMINARY ASSET MANAGEMENT SEGMENT FEE RATE | |||||
| 1Q24 | 4Q23 | 3Q23 | 2Q23 | 1Q23 |
Net management fees/average AUM (bps) | 81.0 | 81.2 | 83.8 | 84.6 | 86.0 |
1. | Includes $34.4 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 March 31, 2024 ($33.9 billion at February 29, 2024 and $33.0 billion at March 31, 2023). | |
2. | Includes $24.5 billion of assets advised by CI and held by clients of advisors with Assante, CIPC, CI Direct Investing and Aligned Capital as at March 31, 2024 ($23.8 billion at February 29, 2024 and $5.0 billion at March 31, 2023). Prior to July 2023, custody assets were historically not included as part of reported assets for Canada wealth management or consolidated total assets. | |
3. | Month-end USD/CAD exchange rates of 1.3546, 1.3572 and 1.3515 for March 2024, February 2024 and March 2023, respectively. | |
4. | 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 Funds Management, 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/20240418002447/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