CI Financial Reports Total Assets of $421.0 Billion for September 2023
October 24 2023 - 7:00AM
Business Wire
All financial amounts in Canadian dollars unless stated
otherwise.
CI Financial Corp. (“CI”) (TSX: CIX) today reported preliminary
total assets of $421.0 billion as at September 30, 2023, consisting
of asset management assets of $119.0 billion, Canadian wealth
management assets of $81.5 billion, Canadian custody assets of
$23.4 billion, and U.S. wealth management assets of $197.0
billion.
CI FINANCIAL CORP.
September 30, 2023
PRELIMINARY MONTH-END ASSETS
(C$ Billions)
ENDING ASSETS
September
2023
August
2023
% Change
September
2022
% Change
Asset management (1)
$119.0
$122.7
-3.0%
$114.2
4.2%
Canada wealth management
$81.5
$83.7
-2.6%
$74.0
10.1%
Canada custody (2)
$23.4
$23.9
-2.1%
$6.6
254.5%
U.S. wealth management (3)
$197.0
$201.6
-2.3%
$149.8
31.5%
TOTAL ASSETS
$421.0
$431.9
-2.5%
$344.6
22.2%
ASSET MANAGEMENT – AVERAGE AUM
September
2023
August
2023
June
2023
Fiscal 2022
% Change
Monthly average
$121.2
$122.2
-
-
-0.8%
Quarter-to-date average
$122.1
-
$122.1
-
0.0%
Year-to-date average
$122.0
-
-
$125.0
-2.4%
PRELIMINARY QUARTER-END NET
SALES RESULTS (C$ billions)
Asset Management
3Q23
2Q23
1Q23
4Q22
3Q22
Canadian retail
($0.1)
$0.0
$0.8
$1.6
$0.6
Canadian institutional
($0.1)
$0.0
($0.2)
($0.2)
($0.0)
Australian asset management
($0.1)
$0.1
($0.1)
$0.0
($0.4)
Closed business
($0.2)
($0.2)
($0.2)
($0.2)
($0.1)
Asset management segment
($0.4)
($0.1)
$0.4
$1.3
$0.1
U.S. asset management (4)
$0.0
($0.3)
($0.1)
$0.6
($0.0)
PRELIMINARY ASSET MANAGEMENT
SEGMENT FEE RATE
3Q23
2Q23
1Q23
4Q22
3Q22
Net management fees/average AUM (bps)
83.8
84.7
86.0
87.2
88.0
- Includes $31.8 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 September 30,
2023 ($33.0 billion at August 31, 2023 and $30.4 billion at
September 30, 2022).
- Includes $19.7 billion of assets advised by CI and held by
clients of advisors with Assante, CIPC, CI Direct Investing and
Aligned Capital as at September 30, 2023 ($20.1 billion at August
31, 2023 and $4.2 billion at September 30, 2022). 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 1.3582, 1.3512 and 1.3813
for September 2023, August 2023 and September 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 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20231022183818/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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