CI Financial Reports Record Total Assets of $309.3 Billion for July 2021
13 Août 2021 - 01:15PM
Business Wire
All financial amounts in Canadian dollars unless stated
otherwise.
CI Financial
Corp. (“CI”) (TSX: CIX,
NYSE: CIXX) today reported preliminary assets under management as
at July 31, 2021 of $146.8 billion and wealth management assets of
$162.6 billion, for total assets of $309.3 billion.
CI FINANCIAL CORP.
July 31, 2021
PRELIMINARY MONTH-END ASSETS
(C$ Billions)
ENDING ASSETS
July 2021
June 2021
% Change
July 2020
% Change
Core assets under management
(Canada and Australia) (1)
$139.9
$138.2
1.2%
$124.7
12.2%
U.S. assets under management
$6.9
$6.6
4.5%
$4.4
56.8%
Total assets under management
$146.8
$144.8
1.4%
$129.1
13.7%
Canadian wealth management
$76.3
$75.5
1.1%
$50.2
52.0%
U.S. wealth management (2)
$86.2
$83.8
2.9%
$8.1
964.2%
Total wealth management
$162.6
$159.3
2.1%
$58.3
178.9%
TOTAL
$309.3
$304.0
1.7%
$187.4
65.0%
CORE AVERAGE AUM
July 2021
June 2021
June 2021
2020
% Change
Monthly average
$139.3
$137.5
--
--
1.3%
Quarter to date average
$139.3
--
$135.9
--
2.5%
Year to date average
$134.6
--
--
$124.1
8.5%
(1)
Includes $34.8 billion of assets
managed by CI and held by clients of advisors with Assante, CIPC
and Aligned Capital as at July 31, 2021 ($34.5 billion at June 30,
2021 and $28.8 billion at July 31, 2020).
(2)
Excludes the previously announced
acquisitions of Radnor Financial Advisors of Wayne, Pennsylvania
and Budros, Ruhlin & Roe, Inc. of Columbus, Ohio. Those
transactions are expected to close in the third and fourth
quarters, respectively.
About CI Financial
CI Financial Corp. is an independent company offering global
asset management and wealth management advisory services. CI’s
primary asset management businesses are CI Global Asset Management
(CI Investments Inc.) and GSFM Pty Ltd., and it operates in
Canadian wealth management through CI Assante Wealth Management
(Assante Wealth Management (Canada) Ltd.), CI Private Counsel LP,
Aligned Capital Partners Inc., CI Direct Investing (WealthBar
Financial Services Inc.), and CI Investment Services Inc.
CI’s U.S. wealth management businesses consist of Barrett Asset
Management, LLC, BDF LLC, Bowling Portfolio Management LLC,
Brightworth, LLC, The Cabana Group, LLC, Congress Wealth
Management, LLC, Dowling & Yahnke, LLC, Doyle Wealth
Management, LLC, One Capital Management, LLC, The Roosevelt
Investment Group, LLC, RGT Wealth Advisors, LLC, Segall, Bryant
& Hamill, LLC, Stavis & Cohen Private Wealth, LLC and
Surevest LLC.
CI is listed on the Toronto Stock Exchange under CIX and on the
New York Stock Exchange under CIXX. Further information is
available at www.cifinancial.com.
This press release contains forward-looking statements
concerning anticipated future events, results, circumstances,
performance or expectations with respect to CI Financial Corp.
(“CI”) and its products and services, including its business
operations, strategy and financial performance and condition.
Forward-looking statements are typically identified by words such
as “believe”, “expect”, “foresee”, “forecast”, “anticipate”,
“intend”, “estimate”, “goal”, “plan” and “project” and similar
references to future periods, or conditional verbs such as “will”,
“may”, “should”, “could” or “would”. These statements are not
historical facts but instead represent management beliefs regarding
future events, many of which by their nature are inherently
uncertain and beyond management’s control. Although management
believes that the expectations reflected in such forward-looking
statements are based on reasonable assumptions, such statements
involve risks and uncertainties. The material factors and
assumptions applied in reaching the conclusions contained in these
forward-looking statements include that the acquisitions of Radnor
Financial Advisors and Budros, Ruhlin & Roe will be completed
and their asset levels will remain stable, that the investment fund
industry will remain stable and that interest rates will remain
relatively stable. Factors that could cause actual results to
differ materially from expectations include, among other things,
general economic and market conditions, including interest and
foreign exchange rates, global financial markets, changes in
government regulations or in tax laws, industry competition,
technological developments and other factors described or discussed
in CI’s disclosure materials filed with applicable securities
regulatory authorities from time to time. The foregoing list is not
exhaustive and the reader is cautioned to consider these and other
factors carefully and not to place undue reliance on
forward-looking statements. Other than as specifically required by
applicable law, CI undertakes no obligation to update or alter any
forward-looking statement after the date on which it is made,
whether to reflect new information, future events or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210813005048/en/
Investor Relations Jason Weyeneth, CFA Vice-President,
Investor Relations & Strategy 416-681-8779 jweyeneth@ci.com
Media Relations Canada Murray Oxby Vice-President,
Communications 416-681-3254 moxby@ci.com
United States Trevor Davis, Gregory FCA for CI Financial
610-415-1145 cifinancial@gregoryfca.com
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