All financial amounts in Canadian dollars unless stated otherwise.
TORONTO--(BUSINESS WIRE)--January 17, 2023--CI Financial Corp. (“CI”) (TSX: CIX, NYSE: CIXX) today reported preliminary total assets of $375.8 billion as at December 31, 2022, consisting of asset management assets of $117.8 billion, Canadian wealth management assets of $77.5 billion, and U.S. wealth management assets of $180.6 billion.
CI also reported preliminary net sales results for its asset management businesses for the fourth quarter of 2022. CI’s Canadian retail business had net sales of $1.6 billion during the quarter, and CI’s overall net sales were $1.9 billion.
In wealth management, CI’s U.S. business generated net sales of $6.6 billion for the full year 2022, while Canadian wealth management had net sales of $3.8 billion.
CI FINANCIAL CORP. December 31, 2022 PRELIMINARY MONTH-END ASSETS (C$ Billions) | |||||||||||||||
ENDING ASSETS | December 2022 | November 2022 | % Change | December 2021 | % Change | ||||||||||
Asset management (1) | $ | 117.8 | $ | 121.7 | -3.2 | % | $ | 144.2 | -18.3 | % | |||||
Canada wealth management | $ | 77.5 | $ | 79.9 | -3.0 | % | $ | 80.6 | -3.8 | % | |||||
U.S. wealth management (2) | $ | 180.6 | $ | 183.3 | -1.5 | % | $ | 151.3 | 19.4 | % | |||||
TOTAL ASSETS | $ | 375.8 | $ | 384.9 | -2.4 | % | $ | 376.2 | -0.1 | % | |||||
ASSET MANAGEMENT - AVERAGE AUM | December 2022 | November 2022 | September 2022 | Fiscal 2021 | % Change | ||||||||||
Monthly average | $ | 119.8 | $ | 118.3 |
| - |
| - | 1.3 | % | |||||
Quarter-to-date average | $ | 117.7 |
| - | $ | 119.1 |
| - | -1.2 | % | |||||
Year-to-date average | $ | 125.0 |
| - |
| - | $ | 137.9 | -9.4 | % | |||||
PRELIMINARY QUARTER-END NET SALES RESULTS (C$ billions) | ||||||||||
Asset Management Segment | 4Q22 | 3Q22 | 2Q22 | 1Q22 | 4Q21 | |||||
Canadian retail | $1.6 | $0.6 | ($0.4) | ($0.9) | $0.1 | |||||
Canadian institutional | ($0.2) | ($0.0) | ($3.2) | ($0.3) | ($0.3) | |||||
Australian asset management | $0.0 | ($0.4) | ($0.1) | ($0.3) | $0.1 | |||||
U.S. asset management | $0.6 | ($0.0) | ($0.2) | $0.4 | $0.3 | |||||
Closed business | ($0.2) | ($0.1) | ($0.2) | ($0.2) | ($0.2) | |||||
TOTAL | $1.9 | $0.1 | ($4.1) | ($1.2) | ($0.0) | |||||
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:
CI is headquartered in Toronto and listed on the Toronto Stock Exchange (TSX: CIX) and the New York Stock Exchange (NYSE: CIXX). 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.
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
