CI Financial Reports Total Assets of $430.3 Billion for July 2023
August 28 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 $430.3 billion as at June 30, 2023, consisting of
asset management assets of $123.7 billion, Canadian wealth
management assets of $83.9 billion, Canadian custody assets of
$23.5 billion, and U.S. wealth management assets of $199.2
billion.
CI is now reporting its Canadian custody assets, which are
administered by CI Investment Services Inc. (“CIIS”), to reflect
the growing significance of this business. This follows the
conversion of client assets at Aligned Capital Partners Inc. to the
CIIS platform in July 2023. Custody assets were historically not
included as part of reported assets for Canada wealth management or
consolidated total assets.
Also in July, CI acquired Intercontinental Wealth Advisors, LLC,
a registered investment advisor firm based in San Antonio,
Texas.
CI FINANCIAL CORP.
July 31, 2023
PRELIMINARY MONTH-END ASSETS
(C$ Billions)
ENDING ASSETS
July 2023
June 2023
% Change
July 2022
% Change
Asset management (1)
$123.7
$122.4
1.1%
$121.4
1.9%
Canada wealth management
$83.9
$82.6
1.6%
$77.4
8.4%
Canada custody (2)
$23.5
$9.1
158.2%
$6.6
256.1%
U.S. wealth management (3)
$199.2
$194.1
2.6%
$149.7
33.1%
TOTAL ASSETS
$430.3
$408.2
5.4%
$355.0
21.2%
ASSET MANAGEMENT – AVERAGE AUM
July 2023
June 2023
June 2023
Fiscal 2022
% Change
Monthly average
$122.8
$121.8
-
-
0.8%
Quarter-to-date average
$122.8
-
$122.1
-
0.6%
Year-to-date average
$122.1
-
-
$125.0
-2.3%
- Includes $33.3 billion of assets managed by CI and held by
clients of advisors with Assante, CI Private Counsel (CIPC) and
Aligned Capital as at July 31, 2023 ($32.8 billion at June 30, 2023
and $32.3 billion at July 31, 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 July 31, 2023 ($5.4 billion at June 30, 2023
and $4.3 billion at July 31, 2022).
- Month-end USD/CAD exchange rates of 1.3186, 1.3248 and 1.2806
for July 2023, June 2023 and July 2022, respectively.
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
(U.S.), 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/20230828493522/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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