All financial amounts in Canadian dollars unless stated otherwise.
TORONTO--(BUSINESS WIRE)--
CI Financial Corp
. (“CI”) (TSX: CIX) today reported preliminary total assets of $511.3 billion as at July 31, 2024, consisting of asset management assets of $133.3 billion, Canadian wealth management assets of $98.2 billion, Canadian custody assets of $30.3 billion, and U.S. wealth management assets of $249.4 billion. This marks the first time that CI’s total assets have surpassed the $500-billion milestone.
As previously reported, Corient, CI’s U.S. wealth management subsidiary, completed the acquisition of two registered investment advisors effective July 31, 2024. The firms, with combined assets of approximately $8.2 billion (US$5.9 billion), were Emerald Multi-Family Office (EMFO, LLC) of Weston, Florida, and Byron Financial, LLC of Charlotte, North Carolina.
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CI FINANCIAL CORP.
July 31, 2024
PRELIMINARY MONTH-END ASSETS
(C$ Billions)
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ENDING ASSETS
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July
2024
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June
2024
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% Change
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July
2023
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% Change
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Asset management
(1)
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$133.3
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$130.1
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2.5%
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$123.7
|
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7.8%
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Canada wealth management
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$98.2
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$95.6
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2.8%
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$83.9
|
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17.0%
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Canada custody
(2)
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$30.3
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$29.4
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3.4%
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$23.5
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29.1%
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U.S. wealth management
(3)
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$249.4
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$234.1
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6.5%
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$199.2
|
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25.0%
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TOTAL ASSETS
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$511.3
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$489.0
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4.5%
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$430.3
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18.7%
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U.S. wealth management from above in USD
(3)
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$180.6
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$171.1
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5.6%
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$151.1
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19.4%
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ASSET MANAGEMENT –
AVERAGE AUM
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July
2024
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June
2024
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June
2024
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Fiscal
2023
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% Change
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Monthly average
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$131.9
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$130.3
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-
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-
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1.2%
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Quarter-to-date average
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$131.9
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-
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$129.2
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-
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2.0%
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Year-to-date average
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$128.6
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-
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-
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$122.1
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5.2%
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1.
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Includes $35.6 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 July 31, 2024 ($34.7 billion at June 30, 2024 and $33.3 billion at July 31, 2023).
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2.
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Includes $26.1 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, 2024 ($25.6 billion at June 30, 2024 and $19.7 billion at July 31, 2023).
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3.
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Month-end USD/CAD exchange rates of 1.3807, 1.3680 and 1.3186 for July 2024, June 2024, and July 2023, respectively.
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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, 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, Northwood Family Office, Coriel Capital, 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.