Comp X International Inc. - CIX STOCK NEWS

CI Global Asset Management (CI GAM) announced the approval of significant changes to its First Asset-branded mutual funds during unitholder meetings on March 25, 2021. This includes two fund mergers: First Asset Utility Plus Fund into Signature Global Infrastructure Fund, and First Asset Canadian Dividend Opportunity Fund into CI North American Dividend Fund. Additionally, fixed administration fees were adopted for certain funds, enhancing predictability of management expense ratios (MERs) and providing cost protection for unitholders. Both initiatives aim to streamline fund offerings and lower management costs.

CI Financial Corp (CIX, CIXX) announced its virtual Annual Meeting of Shareholders on June 16, 2021, at 2:00 p.m. EDT, continuing to prioritize safety amid the COVID-19 pandemic. The meeting will allow shareholders, analysts, and the public to participate via live audio webcast. Shareholders can submit questions and vote on key matters. Access instructions will be available on the Investor Relations section of their website. As of February 28, 2021, CI managed approximately C$236.5 billion (US$185.7 billion) in client assets, offering global asset and wealth management services.

CI Assante Wealth Management congratulates Tina Tehranchian, Senior Wealth Advisor, for being named Senior Wealth Advisor of the Decade for 2021 by the International Association of Top Professionals (IAOTP). She is the first woman and first Canadian to receive this prestigious honor. With over 30 years of experience, Tehranchian specializes in helping business owners grow wealth and develop financial plans. Her accolades include multiple awards recognizing her commitment to the industry and community. This recognition highlights her dedication and the significant contributions of women in finance.

CI Financial Corp. (TSX: CIX; NYSE: CIXX) has announced the acquisition of Brightworth, LLC, a registered investment advisor based in Atlanta, managing approximately US$4.7 billion in assets. This move is expected to double CI's U.S. assets to around US$55 billion, further expanding its wealth management footprint. Brightworth specializes in investment advisory and financial planning for high-net-worth clients. The transaction is projected to close in Q2 2021, contingent on regulatory approvals, and supports CI's strategy to globalize its operations.

CI Financial Corp. (CIX, CIXX) has announced its acquisition of Barrett Asset Management, LLC, a New York-based registered investment advisor managing US$2.5 billion in assets. This deal will elevate CI's U.S. assets to approximately US$50 billion and total assets to US$212 billion. The strategic acquisition aligns with CI's goal to expand wealth management in the U.S. and enhance service capabilities. CI aims to leverage Barrett's client-focused approach and portfolio management expertise, enhancing its presence in the affluent market.

CI Financial Corp reported record total assets of $236.5 billion as of February 28, 2021, a 2.0% increase from January and a 34.1% rise year-over-year. Wealth management assets reached $100.0 billion, marking a 101.6% year-over-year growth. The Canadian wealth management segment saw a 41.5% increase to $69.5 billion, while U.S. assets grew to $30.5 billion. The acquisition of Segall Bryant & Hamill, expected to close in Q2 2021, will further boost U.S. assets, potentially doubling them to $60 billion.

CompX International reported $30 million in sales for Q4 2020, a slight increase from $29.6 million in Q4 2019. However, operating income fell to $2.3 million, down from $3.5 million, while net income dropped to $2.3 million or $0.17 per share, compared to $3.2 million or $0.26 per share the previous year. For the full year, sales declined to $114.5 million from $124.2 million in 2019, with significant impacts from COVID-19 disruptions. The company noted recovery in the second half of 2020 but faced challenges in security products.

CompX International (CIX) has announced a $0.10 increase in its quarterly dividend, raising it to $0.20 per share. The dividend is payable on March 23, 2021, to shareholders on record by the close of business on March 15, 2021. This decision reflects the company's commitment to returning value to its investors. CompX specializes in manufacturing security products and components for recreational marine applications.

CI Financial Corp. (CIX, CIXX) has partnered with Emigrant Bank to provide specialized services for ultra-high-net-worth investors through CI’s U.S. wealth management firms. These services include Delaware trust administration and insurance tailored for affluent clients. CI has significantly expanded its U.S. presence, managing $23 billion in assets through 13 acquisitions and is set to reach $46 billion with the upcoming acquisition of Segall Bryant & Hamill. This collaboration emphasizes CI's commitment to offering unique solutions for wealth management.