Comp X International Inc. - CIX STOCK NEWS

CI Financial Corp (TSX: CIX, NYSE: CIXX) reported significant growth in assets under management as of January 31, 2021, totaling $231.8 billion, a 26.1% increase year-over-year. Wealth management assets rose to $97.5 billion, marking an 89.7% annual growth. Following 13 U.S. acquisitions since January 2020, the firm anticipates doubling its U.S. assets to approximately $59 billion with the upcoming acquisition of Segall Bryant & Hamill, LLC. Canadian wealth management assets stood at $67.6 billion, an increase of 32.8% year-over-year.

CI Financial Corp. (TSX: CIX, NYSE: CIXX) reported strong financial results for Q4 and FY 2020, with Q4 adjusted earnings per share hitting a record $0.71. Wealth management assets nearly doubled to $96 billion, driven by five U.S. acquisitions and a significant presence in the U.S. market, now nearing $60 billion. Despite a drop in basic EPS to $0.50, free cash flow rose to $150.2 million. CI's focus on modernizing its asset management and enhancing its global footprint is evident through strategic acquisitions and a robust U.S. debt issuance of $960 million.

CI Financial Corp. (CIX, CIXX) has signed an agreement to acquire Segall Bryant & Hamill (SBH), an investment firm focused on high-net-worth clients. This move is set to double CI's U.S.-based assets to US$46.1 billion, marking CI's largest acquisition to date by asset size. The acquisition will enhance CI's presence in U.S. wealth management, bringing total North American assets to approximately US$82 billion. The transaction is expected to close in Q2 2021, pending regulatory approvals.

CI Financial Corp. (CIX, CIXX) is set to release its fourth-quarter financial results for fiscal 2020 on February 11, 2021. CEO Kurt MacAlpine and CFO Douglas Jamieson will lead a conference call at 9:00 a.m. ET, accessible via a webcast. CI manages approximately C$231 billion (US$182 billion) in client assets, providing asset and wealth management services across multiple platforms.

CI Financial Corp. (CIX, CIXX) plans to redeem all outstanding 2023 Debentures, totaling $325 million, on or about February 19, 2021. The redemption will be at the greater of the 2023 Canada Yield Price or par, with accrued interest until the redemption date. Beneficial holders are advised to contact their intermediaries for inquiries regarding the redemption. CI Financial manages approximately C$231 billion (US$182 billion) in assets, with operations in asset management and wealth management across Canada and the U.S.

CI Global Asset Management has launched the ETF US$ Hedged Series of the CI Munro Alternative Global Growth Fund, trading on the Toronto Stock Exchange under the ticker CMAG.U. This fund aims to achieve risk-adjusted, absolute returns by investing in global growth equities while prioritizing capital preservation. Munro Partners, a Melbourne-based investment team, is the sub-advisor. The new series is part of CI GAM's dual-class fund structure initiative, which offers advantages such as reduced fund duplication and improved performance consistency.

CI Financial Corp. (CIX, CIXX) has announced the redemption price for its $200 million 2.775% debentures due on November 25, 2021. The redemption date is set for January 18, 2021, with a redemption price of $101.903 per $100 principal amount, plus accrued interest of $0.403 prior to the redemption date. CI Financial manages approximately C$231 billion (US$182 billion) in assets as of December 31, 2020, and operates in global asset management and wealth advisory services.

CI Financial Corp. (CIX, CIXX) announced a US$260 million re-opening of its 3.200% notes due 2030, increasing the total principal to US$960 million. The Additional Notes will share identical terms with existing notes issued on December 17, 2020. Proceeds will be used to redeem C$325 million of 3.520% debentures due July 20, 2023. The offering, managed by BofA Securities and J.P. Morgan, is expected to close on January 19, 2021. It is registered with the SEC and will not be offered in Canada.

CI Financial Corp. (CIX, CIXX) reported a preliminary total of $231.5 billion in assets as of December 31, 2020, marking a 27.1% increase year-over-year. Wealth management assets reached $96.6 billion, growing by 91.3% year-over-year. The company completed the acquisition of four U.S. wealth management firms, adding $12.3 billion in assets and boosting U.S. wealth management to $29 billion. Additionally, CI successfully issued US$700 million in bonds and reported a 1.5% increase in assets under management for December.