CI Financial Reports Total Assets of $444.8 Billion for December 2023
17 Janvier 2024 - 1:00PM
Business Wire
All financial amounts in Canadian dollars unless stated
otherwise.
CI Financial Corp. (“CI”) (TSX: CIX) today reported preliminary
total assets of $444.8 billion as at December 31, 2023, consisting
of asset management assets of $125.0 billion, Canadian wealth
management assets of $88.0 billion, Canadian custody assets of
$25.6 billion, and U.S. wealth management assets of $206.3
billion.
CI FINANCIAL CORP.
December 31, 2023
PRELIMINARY MONTH-END ASSETS
(C$ Billions)
ENDING ASSETS
December
2023
November
2023
% Change
December
2022
% Change
Asset management (1)
$125.0
$122.8
1.8%
$117.8
6.1%
Canada wealth management
$88.0
$86.1
2.2%
$77.4
13.7%
Canada custody (2)
$25.6
$24.8
3.2%
$7.9
224.1%
U.S. wealth management (3)
$206.3
$204.4
0.9%
$180.6
14.2%
TOTAL ASSETS
$444.8
$438.0
1.6%
$383.6
16.0%
U.S. wealth management from above in USD
(3)
$155.7
$150.6
3.4%
$133.4
16.7%
ASSET MANAGEMENT – AVERAGE AUM
December
2023
November
2023
September
2023
Fiscal 2022
% Change
Monthly average
$124.2
$121.1
-
-
2.6%
Quarter-to-date average
$121.1
-
$122.1
-
-0.8%
Year-to-date average
$121.8
-
-
$125.0
-2.6%
PRELIMINARY QUARTER-END NET
SALES RESULTS (C$ billions)
Asset Management
4Q23
3Q23
2Q23
1Q23
4Q22
Canadian retail
($0.4)
($0.1)
$0.0
$0.8
$1.6
Canadian institutional
$0.0
($0.1)
$0.0
($0.2)
($0.2)
Australian asset management
$0.2
($0.1)
$0.1
($0.1)
$0.0
Closed business
($0.2)
($0.2)
($0.2)
($0.2)
($0.2)
Asset management segment
($0.4)
($0.4)
($0.1)
$0.4
$1.3
U.S. asset management (4)
($0.1)
$0.0
($0.3)
($0.1)
$0.6
PRELIMINARY ASSET MANAGEMENT
SEGMENT FEE RATE
4Q23
3Q23
2Q23
1Q23
4Q22
Net management fees/average AUM (bps)
81.2
83.8
84.6
86.0
87.2
- Includes $33.2 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 December 31, 2023
($32.6 billion at November 30, 2023, and $31.9 billion at December
31, 2022).
- Includes $21.5 billion of assets advised by CI and held by
clients of advisors with Assante, CIPC, CI Direct Investing and
Aligned Capital as at December 31, 2023 ($20.8 billion at November
30, 2023, and $4.6 billion at December 31, 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 1.3250, 1.3570 and 1.3540
for December 2023, November 2023, and December 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, Coriel Capital Inc., 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240117391482/en/
Investor Relations Jason Weyeneth, CFA Vice-President,
Investor Relations & Strategy 416-681-8779 jweyeneth@ci.com
Media Relations Canada Murray Oxby Vice-President, Corporate
Communications 416-681-3254 moxby@ci.com United States Jimmy Moock
Managing Partner, StreetCred 610-304-4570 jimmy@streetcredpr.com
ci@streetcredpr.com
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