CIX CompX International Inc

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