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 $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

1. 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).
2. 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.
3. Month-end USD/CAD exchange rates of 1.3582, 1.3512 and 1.3813 for September 2023, August 2023 and September 2022, 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 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.

View source 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