CI Financial Reports Total Assets of $474.2 Billion for March 2024
22 Aprile 2024 - 1:00PM
Business Wire
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%
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
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
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