CI Financial Reports Total Assets of $421.0 Billion for September 2023
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
|
% 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.
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
[email protected]
Media Relations
Canada
Murray Oxby
Vice-President, Corporate Communications
416-681-3254
[email protected]
United States
Jimmy Moock
Managing Partner, StreetCred
610-304-4570
[email protected]
[email protected]
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