CI Financial Reports Total Assets of $375.8 Billion for December 2022

Rhea-AI Summary

CI Financial Corp. (NYSE: CIXX) reported preliminary total assets of $375.8 billion as of December 31, 2022. The company’s asset management segment saw net sales of $1.9 billion in Q4 2022, with Canadian retail leading at $1.6 billion. CI's wealth management businesses recorded $10.4 billion in net flows for 2022, showcasing strong performance. However, total assets declined by -2.4% year-over-year from $384.9 billion in December 2021. CI's U.S. wealth management net sales reached $6.6 billion for the year, while Canadian wealth management contributed $3.8 billion.

Positive

• Q4 asset management net flows were positive at $1.9 billion.
• CI's wealth management businesses recorded $10.4 billion in net flows for 2022.

Negative

• Total assets decreased by 2.4% from $384.9 billion in December 2021.

• Q4 asset management net flows were positive $1.9 billion, led by Canadian retail
• CI’s wealth management businesses record $10.4 billion in net flows in 2022

All financial amounts in Canadian dollars unless stated otherwise.

TORONTO--(BUSINESS WIRE)-- CI Financial Corp. (“CI”) (TSX: CIX, NYSE: CIXX) today reported preliminary total assets of $375.8 billion as at December 31, 2022, consisting of asset management assets of $117.8 billion, Canadian wealth management assets of $77.5 billion, and U.S. wealth management assets of $180.6 billion.

CI also reported preliminary net sales results for its asset management businesses for the fourth quarter of 2022. CI’s Canadian retail business had net sales of $1.6 billion during the quarter, and CI’s overall net sales were $1.9 billion.

In wealth management, CI’s U.S. business generated net sales of $6.6 billion for the full year 2022, while Canadian wealth management had net sales of $3.8 billion.

CI FINANCIAL CORP. December 31, 2022 PRELIMINARY MONTH-END ASSETS (C$ Billions)
ENDING ASSETS		December 2022			November 2022			% Change			December 2021			% Change
Asset management (1)		$	117.8		$	121.7		-3.2	%		$	144.2		-18.3	%
Canada wealth management		$	77.5		$	79.9		-3.0	%		$	80.6		-3.8	%
U.S. wealth management (2)		$	180.6		$	183.3		-1.5	%		$	151.3		19.4	%
TOTAL ASSETS		$	375.8		$	384.9		-2.4	%		$	376.2		-0.1	%

ASSET MANAGEMENT - AVERAGE AUM		December 2022			November 2022			September 2022			Fiscal 2021			% Change
Monthly average		$	119.8		$	118.3			-			-		1.3	%
Quarter-to-date average		$	117.7			-		$	119.1			-		-1.2	%
Year-to-date average		$	125.0			-			-		$	137.9		-9.4	%

1. Includes $31.9 billion of assets managed by CI and held by clients of advisors with Assante, CIPC and Aligned Capital as at December 31, 2022 ($32.6 billion at November 30, 2022 and $36.2 billion at December 31, 2021).
2. Month-end USD/CAD exchange rates of 1.3540, 1.3452 and 1.2637 for December 2022, November 2022 and December 2021, respectively.

PRELIMINARY QUARTER-END NET SALES RESULTS (C$ billions)
Asset Management Segment		4Q22		3Q22		2Q22		1Q22		4Q21
Canadian retail		$1.6		$0.6		($0.4)		($0.9)		$0.1
Canadian institutional		($0.2)		($0.0)		($3.2)		($0.3)		($0.3)
Australian asset management		$0.0		($0.4)		($0.1)		($0.3)		$0.1
U.S. asset management		$0.6		($0.0)		($0.2)		$0.4		$0.3
Closed business		($0.2)		($0.1)		($0.2)		($0.2)		($0.2)
TOTAL		$1.9		$0.1		($4.1)		($1.2)		($0.0)

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 the operations of CI Global Asset Management and Australia-based GSFM Pty Ltd.
• 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 US, a national network of best-in-class wealth management teams.

CI is headquartered in Toronto and listed on the Toronto Stock Exchange (TSX: CIX) and the New York Stock Exchange (NYSE: CIXX). 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230117005496/en/

Investor Relations

Jason Weyeneth, CFA

Vice-President, Investor Relations & Strategy

416-681-8779

jweyeneth@ci.com

Media Relations

Canada

Murray Oxby

Vice-President, Corporate Communications

416-681-3254

moxby@ci.com

United States

Jimmy Moock

Managing Partner, StreetCred

610-304-4570

jimmy@streetcredpr.com

ci@streetcredpr.com

Source: CI Financial Corp.

FAQ

What were CI Financial's total assets as of December 31, 2022?

CI Financial reported total assets of $375.8 billion.

How much net sales did CI Financial achieve in Q4 2022?

CI Financial achieved net sales of $1.9 billion in Q4 2022.

What was the net flow in CI Financial's wealth management businesses for 2022?

CI Financial's wealth management businesses recorded net flows of $10.4 billion in 2022.

How did CI Financial's total assets compare year-over-year?

CI Financial's total assets decreased by 2.4% from $384.9 billion in December 2021.