- 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 |
% |
|||||
- 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 $36.2 billion at December 31, 2021).
- Month-end USD/CAD exchange rates of 1.3540, 1.3452 and 1.2637 for December 2022, November 2022 and December 2021, respectively.
PRELIMINARY QUARTER-END NET SALES RESULTS (C$ 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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230117005496/en/
Contacts
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
