-
Q4 asset management net flows were positive $1.9 billion, led by Canadian retail
-
CI’s wealth management businesses record $10.4 billion in net flows in 2022
All financial amounts in Canadian dollars unless stated otherwise.
TORONTO--(BUSINESS WIRE)--
CI Financial Corp. (“CI”) (TSX: CIX, NYSE: CIXX) today reported preliminary total assets of $375.8 billion as at December 31, 2022, consisting of asset management assets of $117.8 billion, Canadian wealth management assets of $77.5 billion, and U.S. wealth management assets of $180.6 billion.
CI also reported preliminary net sales results for its asset management businesses for the fourth quarter of 2022. CI’s Canadian retail business had net sales of $1.6 billion during the quarter, and CI’s overall net sales were $1.9 billion.
In wealth management, CI’s U.S. business generated net sales of $6.6 billion for the full year 2022, while Canadian wealth management had net sales of $3.8 billion.
|
CI FINANCIAL CORP.
December 31, 2022
PRELIMINARY MONTH-END ASSETS (C$ Billions)
|
|
ENDING ASSETS
|
|
December
2022
|
|
November
2022
|
|
% Change
|
|
December
2021
|
|
% Change
|
|
Asset management (1)
|
|
$
|
117.8
|
|
$
|
121.7
|
|
-3.2
|
%
|
|
$
|
144.2
|
|
-18.3
|
%
|
|
Canada wealth management
|
|
$
|
77.5
|
|
$
|
79.9
|
|
-3.0
|
%
|
|
$
|
80.6
|
|
-3.8
|
%
|
|
U.S. wealth management (2)
|
|
$
|
180.6
|
|
$
|
183.3
|
|
-1.5
|
%
|
|
$
|
151.3
|
|
19.4
|
%
|
|
TOTAL ASSETS
|
|
$
|
375.8
|
|
$
|
384.9
|
|
-2.4
|
%
|
|
$
|
376.2
|
|
-0.1
|
%
|
|
ASSET MANAGEMENT -
AVERAGE AUM
|
|
December
2022
|
|
November
2022
|
|
September
2022
|
|
Fiscal
2021
|
|
% Change
|
|
Monthly average
|
|
$
|
119.8
|
|
$
|
118.3
|
|
|
-
|
|
|
-
|
|
1.3
|
%
|
|
Quarter-to-date average
|
|
$
|
117.7
|
|
|
-
|
|
$
|
119.1
|
|
|
-
|
|
-1.2
|
%
|
|
Year-to-date average
|
|
$
|
125.0
|
|
|
-
|
|
|
-
|
|
$
|
137.9
|
|
-9.4
|
%
|
-
Includes $31.9 billion of assets managed by CI and held by clients of advisors with Assante, CIPC and Aligned Capital as at December 31, 2022 ($32.6 billion at November 30, 2022 and $36.2 billion at December 31, 2021).
-
Month-end USD/CAD exchange rates of 1.3540, 1.3452 and 1.2637 for December 2022, November 2022 and December 2021, respectively.
|
PRELIMINARY QUARTER-END NET SALES RESULTS (C$ billions)
|
|
Asset Management Segment
|
|
4Q22
|
|
3Q22
|
|
2Q22
|
|
1Q22
|
|
4Q21
|
|
Canadian retail
|
|
$1.6
|
|
$0.6
|
|
($0.4)
|
|
($0.9)
|
|
$0.1
|
|
Canadian institutional
|
|
($0.2)
|
|
($0.0)
|
|
($3.2)
|
|
($0.3)
|
|
($0.3)
|
|
Australian asset management
|
|
$0.0
|
|
($0.4)
|
|
($0.1)
|
|
($0.3)
|
|
$0.1
|
|
U.S. asset management
|
|
$0.6
|
|
($0.0)
|
|
($0.2)
|
|
$0.4
|
|
$0.3
|
|
Closed business
|
|
($0.2)
|
|
($0.1)
|
|
($0.2)
|
|
($0.2)
|
|
($0.2)
|
|
TOTAL
|
|
$1.9
|
|
$0.1
|
|
($4.1)
|
|
($1.2)
|
|
($0.0)
|
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 the operations of CI Global Asset Management and Australia-based GSFM Pty Ltd.
-
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 US, a national network of best-in-class wealth management teams.
CI is headquartered in Toronto and listed on the Toronto Stock Exchange (TSX: CIX) and the New York Stock Exchange (NYSE: CIXX). 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.
Source: CI Financial Corp.