CI Financial reports assets under management for December 2019

TORONTO (January 6, 2020) - CI Financial Corp. (“CI”) (TSX: CIX) today reported preliminary assets under management at December 31, 2019 of $132.1 billion and total assets of $181.9 billion.

 

Assets under management increased by 0.2% in the month of December and 6.2% year over year. CI’s average assets under management for the fourth quarter were $130.9 billion, an increase of 0.8% compared to the average for the third quarter of 2019.

 

CI also reported preliminary sales results for the fourth quarter of 2019 of $2.0 billion in overall net redemptions. CI’s Canadian retail business, excluding products closed to new investors, had $0.4 billion in net redemptions, representing an improvement of $1.0 billion over the third quarter of 2019 and an improvement of $1.9 billion over the fourth quarter of 2018. CI’s Canadian institutional business had $1.5 billion in net redemptions. Of this, $1.2 billion was due to accounts that a client moved from CI to its own in-house portfolio manager. As noted in the third quarter results conference call, CI had been notified in the first quarter of this move and it will not have a significant impact on results, given that they were lower-margin accounts. CI’s international business had net sales of $0.1 billion for the fourth quarter of 2019, while CI’s closed business, comprised primarily of segregated fund contracts that are no longer available for sale, had $0.2 billion in net redemptions for the quarter.

 

CI reported assets under advisement of $49.8 billion at December 31, 2019, an increase of 1.4% in the month of December and 19.1% year over year. This includes assets at Assante Wealth Management (Canada) Ltd., Stonegate Private Counsel and since January 2019, WealthBar Financial Services Inc.

 

Further information about CI’s assets and financial position can be found below in the tables of statistics and on its website, www.cifinancial.com. These are the only statistics authorized by CI, and CI takes no responsibility for reporting by any external sources.

 

CI FINANCIAL CORP.

December 31, 2019

PRELIMINARY MONTH-END STATISTICS

ENDING ASSETS

Dec. 31/19

(billions)

Nov. 30/19

(billions)

%

Change

Dec. 31/18 

(billions)

%

Change

Assets under management

$132.1

$131.8

0.2%

$124.4

6.2%

Assets under advisement1

49.8

49.1

1.4%

41.8

19.1%

TOTAL

$181.9

$180.9

0.6%

$166.2

9.4%

 

 

MONTHLY AVERAGE

ASSETS UNDER MANAGEMENT

Dec. 31/19

(billions)

Nov. 30/19

(billions)

%

Change

Monthly average

$132.1

$131.5

0.5%

 

 

FISCAL QUARTER AVERAGE

ASSETS UNDER MANAGEMENT

Dec. 31/19

(billions)

Sept. 30/19

(billions)

%

Change

Fiscal quarter average

$130.9

$129.8

0.8%

 

 

FISCAL YEAR AVERAGE

ASSETS UNDER MANAGEMENT

Fiscal 2019

(billions)

Fiscal 2018

(billions)

%

Change

Fiscal year average

$130.2

$137.2

-5.1%

 

 

EQUITY

(millions)

FINANCIAL POSITION

(millions)

Total outstanding shares (TSX)

222.4

Debt outstanding

$1,610

QTD weighted avg. shares

224.9

Net debt outstanding

$1,400

 

 

1Includes assets managed by CI and held by clients of advisors with Assante and Stonegate Private Counsel.

 

CI Financial Corp. (TSX: CIX) is an independent Canadian company offering global asset management and wealth management advisory services. Its primary operating businesses are CI Investments Inc., Assante Wealth Management (Canada) Ltd., CI Private Counsel LP, GSFM Pty Ltd., WealthBar Financial Services Inc., and BBS Securities Inc. Further information is available at www.cifinancial.com.

 

For further information:

Investor Relations
CI Financial Corp.
(416) 364-1145

 

 

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