TORONTO--(BUSINESS WIRE)--CI Financial Corp. (“CI”) (TSX: CIX) today reported preliminary total assets of $400.9 billion as at May 31, 2023, representing a record for the firm. Total assets consisted of asset management assets of $120.8 billion, Canadian wealth management assets of $81.1 billion, and U.S. wealth management assets of $198.9 billion.
As previously reported, CI acquired Avalon Advisors, LLC of Houston, a registered investment advisor managing approximately US$8.2 billion in client assets, effective May 1, 2023. The firm is now operating as CI Avalon Private Wealth.
CI FINANCIAL CORP. May 31, 2023 PRELIMINARY MONTH-END ASSETS (C$ Billions) |
|||||
ENDING ASSETS |
May 2023 |
April 2023 |
% Change |
May 2022 |
% Change |
Asset management (1) |
$120.8 |
$123.4 |
-2.1% |
$124.3 |
-2.8% |
Canada wealth management |
$81.1 |
$82.6 |
-1.8% |
$78.2 |
3.7% |
U.S. wealth management (2) |
$198.9 |
$188.9 |
5.3% |
$147.2 |
35.1% |
TOTAL ASSETS |
$400.9 |
$394.9 |
1.5% |
$349.6 |
14.7% |
ASSET MANAGEMENT – AVERAGE AUM |
May 2022 |
April 2023 |
March 2023 |
Fiscal
|
% Change |
Monthly average |
$122.1 |
$122.6 |
- |
- |
-0.4% |
Quarter-to-date average |
$122.3 |
- |
$121.9 |
- |
0.3% |
Year-to-date average |
$122.1 |
- |
- |
$125.0 |
-2.3% |
- Includes $32.5 billion of assets managed by CI and held by clients of advisors with Assante, CIPC and Aligned Capital as at May 31, 2023 ($33.2 billion at April 30, 2023 and $32.7 billion at May 31, 2022).
- Month-end USD/CAD exchange rates of 1.3575, 1.3548 and 1.2648 for May 2023, April 2023 and May 2022, respectively.
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 (U.S.), 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.
