All financial amounts in Canadian dollars unless stated otherwise.
TORONTO--(BUSINESS WIRE)--
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 $197.0 billion.
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CI FINANCIAL CORP.
September 30, 2023
PRELIMINARY MONTH-END ASSETS (C$ Billions)
|
|
ENDING ASSETS
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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)
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$0.0
|
($0.3)
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($0.1)
|
$0.6
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($0.0)
|
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PRELIMINARY ASSET MANAGEMENT SEGMENT FEE RATE
|
|
|
3Q23
|
2Q23
|
1Q23
|
4Q22
|
3Q22
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|
Net management fees/average AUM (bps)
|
83.8
|
84.7
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86.0
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87.2
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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).
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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.
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Month-end USD/CAD exchange rates of 1.3582, 1.3512 and 1.3813 for September 2023, August 2023 and September 2022, respectively.
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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:
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Asset Management, which includes CI Global Asset Management, which operates in Canada, and GSFM Pty Ltd., which operates in Australia.
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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.
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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.
Source: CI Financial Corp.