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CI Financial Reports Total Assets of $375.8 Billion for December 2022

By: via Business Wire
  • Q4 asset management net flows were positive $1.9 billion, led by Canadian retail
  • CI’s wealth management businesses record $10.4 billion in net flows in 2022

All financial amounts in Canadian dollars unless stated otherwise.

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

%

  1. Includes $31.9 billion of assets managed by CI and held by clients of advisors with Assante, CIPC and Aligned Capital as at December 31, 2022 ($32.6 billion at November 30, 2022 and $36.2 billion at December 31, 2021).
  2. Month-end USD/CAD exchange rates of 1.3540, 1.3452 and 1.2637 for December 2022, November 2022 and December 2021, respectively.

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:

  • Asset Management, which includes the operations of CI Global Asset Management and Australia-based GSFM Pty Ltd.
  • 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) 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.

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