All financial amounts in Canadian dollars unless stated otherwise.
CI Financial Corp. (“CI”) (TSX: CIX) today reported preliminary total assets of $474.2 billion as at March 31, 2024, consisting of asset management assets of $130.1 billion, Canadian wealth management assets of $93.7 billion, Canadian custody assets of $28.0 billion, and U.S. wealth management assets of $222.3 billion.
CI FINANCIAL CORP.
March 31, 2024
PRELIMINARY MONTH-END ASSETS (C$ Billions)
|
ENDING ASSETS
|
March
2024
|
February
2024
|
% Change
|
March
2023
|
% Change
|
Asset management (1)
|
$130.1
|
$128.0
|
1.6%
|
$122.0
|
6.7%
|
Canada wealth management
|
$93.7
|
$91.9
|
2.0%
|
$81.6
|
14.9%
|
Canada custody (2)
|
$28.0
|
$27.1
|
3.4%
|
$8.6
|
225.7%
|
U.S. wealth management (3)
|
$222.3
|
$218.9
|
1.6%
|
$187.5
|
18.6%
|
TOTAL ASSETS
|
$474.2
|
$465.9
|
1.8%
|
$399.7
|
18.6%
|
|
|
|
|
|
|
U.S. wealth management from above in USD (3)
|
$164.1
|
$161.3
|
1.8%
|
$138.7
|
18.3%
|
ASSET MANAGEMENT – AVERAGE AUM
|
March
2024
|
February
2024
|
December
2023
|
Fiscal
2023
|
% Change
|
Monthly average
|
$129.3
|
$126.4
|
-
|
-
|
2.3%
|
Quarter-to-date average
|
$126.8
|
-
|
$121.1
|
-
|
4.7%
|
Year-to-date average
|
$126.8
|
-
|
-
|
$121.9
|
4.0%
|
PRELIMINARY QUARTER-END SALES RESULTS (C$ Billions)
|
Asset Management
|
1Q24
|
4Q23
|
3Q23
|
2Q23
|
1Q23
|
Canadian retail
|
$ (1.3)
|
$(0.4)
|
$ (0.1)
|
-
|
$ 0.8
|
Canadian institutional
|
-
|
-
|
$ (0.1)
|
-
|
$ (0.2)
|
Australian asset management
|
$(0.1)
|
$0.2
|
$ (0.1)
|
$ 0.1
|
$ (0.1)
|
Closed business
|
$(0.2)
|
$(0.2)
|
$ (0.2)
|
$ (0.2)
|
$ (0.2)
|
Asset management segment
|
$(1.6)
|
$(0.4)
|
(0.4)
|
(0.1)
|
0.4
|
|
|
|
|
|
|
U.S. asset management (4)
|
0.1
|
(0.1)
|
-
|
(0.3)
|
(0.1)
|
PRELIMINARY ASSET MANAGEMENT SEGMENT FEE RATE
|
|
1Q24
|
4Q23
|
3Q23
|
2Q23
|
1Q23
|
Net management fees/average AUM (bps)
|
81.0
|
81.2
|
83.8
|
84.6
|
86.0
|
1.
|
|
Includes $34.4 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 March 31, 2024 ($33.9 billion at February 29, 2024 and $33.0 billion at March 31, 2023).
|
2.
|
|
Includes $24.5 billion of assets advised by CI and held by clients of advisors with Assante, CIPC, CI Direct Investing and Aligned Capital as at March 31, 2024 ($23.8 billion at February 29, 2024 and $5.0 billion at March 31, 2023). Prior to July 2023, custody assets were historically not included as part of reported assets for Canada wealth management or consolidated total assets.
|
3.
|
|
Month-end USD/CAD exchange rates of 1.3546, 1.3572 and 1.3515 for March 2024, February 2024 and March 2023, respectively.
|
4.
|
|
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 Funds Management, which operates in Australia.
- 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.
- 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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