All financial amounts in Canadian dollars unless stated otherwise.
CI Financial Corp. (“CI”) (TSX: CIX) today reported preliminary total assets of $391.1 billion as at March 31, 2023, consisting of asset management assets of $122.0 billion, Canadian wealth management assets of $81.6 billion, and U.S. wealth management assets of $187.5 billion.
CI also reported preliminary net sales results for its asset management businesses for the first quarter of 2023. CI’s Canadian retail business had net sales of $0.8 billion, representing the third consecutive quarter of positive net sales. CI’s overall net sales were $0.3 billion for the quarter.
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CI FINANCIAL CORP.
March 31, 2023
PRELIMINARY MONTH-END ASSETS (C$ Billions)
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ENDING ASSETS
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March
2023
|
February
2023
|
% Change
|
March
2022
|
% Change
|
|
Asset management (1)
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$122.0
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$121.9
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0.1%
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$136.3
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-10.5%
|
|
Canada wealth management
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$81.6
|
$81.1
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0.6%
|
$79.0
|
3.3%
|
|
U.S. wealth management (2)
|
$187.5
|
$186.2
|
0.7%
|
$145.8
|
28.6%
|
|
TOTAL ASSETS
|
$391.1
|
$389.2
|
0.5%
|
$361.0
|
8.3%
|
|
ASSET MANAGEMENT - AVERAGE AUM
|
March
2022
|
February
2023
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December
2022
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Fiscal
2022
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% Change
|
|
Monthly average
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$121.2
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$123.1
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-
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-
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-1.5%
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|
Quarter-to-date average
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$121.9
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-
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$117.7
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-
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3.6%
|
|
Year-to-date average
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$121.9
|
-
|
-
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$125.0
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-2.5%
|
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PRELIMINARY QUARTER-END NET SALES RESULTS (C$ billions)
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|
ASSET MANAGEMENT
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1Q23
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4Q22
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3Q22
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2Q22
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1Q22
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Canadian retail
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$0.8
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$1.6
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$0.6
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($0.4)
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($0.9)
|
|
Canadian institutional
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($0.2)
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($0.2)
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($0.0)
|
($3.2)
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($0.3)
|
|
Australian asset management
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($0.1)
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$0.0
|
($0.4)
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($0.1)
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($0.3)
|
|
Closed business
|
($0.2)
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($0.2)
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($0.1)
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($0.2)
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($0.2)
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TOTAL ASSET MANAGEMENT SEGMENT
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$0.4
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$1.3
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$0.1
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($3.9)
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($1.6)
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U.S. asset management (3)
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($0.1)
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$0.6
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($0.0)
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($0.2)
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$0.4
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- Includes $33.0 billion of assets managed by CI and held by clients of advisors with Assante, CIPC and Aligned Capital as at March 31, 2023 ($32.9 billion at February 28, 2023 and $34.5 billion at March 31, 2022).
- Month-end USD/CAD exchange rates of 1.3515, 1.3645 and 1.2505 for March 2023, February 2023 and March 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, 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). 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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