CI Financial Reports Total Assets of $518.1 Billion for September 2024
In This Article:
All financial amounts in Canadian dollars unless stated otherwise.
TORONTO, October 18, 2024--(BUSINESS WIRE)--CI Financial Corp. ("CI") (TSX: CIX) today reported preliminary total assets of $518.1 billion as at September 30, 2024, consisting of asset management assets of $135.4 billion, Canadian wealth management assets of $100.1 billion, Canadian custody assets of $31.9 billion, and U.S. wealth management assets of $250.6 billion.
| CI FINANCIAL CORP. September 30, 2024 PRELIMINARY MONTH-END ASSETS (C$ Billions) | |||||
| ENDING ASSETS | September 2024 | August 2024 | % Change | September 2023 | % Change |
| Asset management (1) | $135.4 | $133.1 | 1.7% | $119.0 | 13.7% |
| Canada wealth management | $100.1 | $98.5 | 1.6% | $81.5 | 22.9% |
| Canada custody (2) | $31.9 | $31.0 | 3.0% | $23.4 | 36.1% |
| U.S. wealth management (3) | $250.6 | $246.5 | 1.7% | $197.0 | 27.2% |
| TOTAL ASSETS | $518.1 | $509.2 | 1.7% | $421.0 | 23.1% |
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| U.S. wealth management from above in USD (3) | $185.3 | $182.9 | 1.3% | $145.1 | 27.8% |
| ASSET MANAGEMENT – AVERAGE AUM | September 2024 | August 2024 | June 2024 | Fiscal 2023 | % Change |
| Monthly average | $133.6 | $131.9 | - | - | 1.3% |
| Quarter-to-date average | $132.5 | - | $129.2 | - | 2.5% |
| Year-to-date average | $129.5 | - | - | $122.1 | 6.0% |
| PRELIMINARY QUARTER-END SALES RESULTS (C$ Billions) | |||||
| Asset Management | 3Q24 | 2Q24 | 1Q24 | 4Q23 | 3Q23 |
| Canadian retail | $ 0.0 | $ (0.3) | $ (1.3) | $ (0.4) | $ (0.1) |
| Canadian institutional | $ (0.0) | $ (0.0) | $ 0.0 | $ 0.0 | $ (0.1) |
| Australian asset management | $ 0.2 | $ (0.0) | $ (0.1) | $ 0.2 | $ (0.1) |
| Closed business | $ (0.2) | $ (0.2) | $ (0.2) | $ (0.2) | $ (0.2) |
| Asset management segment | $ 0.1 | $ (0.6) | $ (1.6) | $ (0.4) | $ (0.5) |
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| U.S. asset management (4) | $ 0.1 | $ 0.7 | $ 0.1 | $ (0.1) | $ 0.0 |
| PRELIMINARY ASSET MANAGEMENT SEGMENT FEE RATE | |||||
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| 3Q24 | 2Q24 | 1Q24 | 4Q23 | 3Q23 |
| Net management fees/average AUM (bps) | 79.5 | 80.4 | 81.0 | 81.2 | 83.8 |
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Includes $36.0 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 September 30, 2024 ($35.6 billion at August 31, 2024 and $31.8 billion at September 30, 2023).
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Includes $27.5 billion of assets advised by CI and held by clients of advisors with Assante, CIPC, CI Direct Investing and Aligned Capital as at September 30, 2024 ($26.6 billion at August 31, 2024 and $19.7 billion at September 30, 2023).
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Month-end USD/CAD exchange rates of 1.3524, 1.3477 and 1.3582 for September 2024, August 2024, and September 2023, respectively.
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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: