CIXX - CIXX STOCK NEWS

CI Financial Corp. (TSX: CIX; NYSE: CIXX) has announced a new joint venture, Axia Real Assets LP, focusing on global real estate and infrastructure investments. Axia will be managed by its Founding Partners, who have experience in managing over $50 billion in real assets. CI's CEO, Kurt MacAlpine, expressed support for Axia, highlighting the importance of alternative investments in today's market. CI currently manages approximately C$236.5 billion in client assets and aims to expand its alternative investment offerings through this venture, which is expected to launch its first solutions in summer 2021.

CI Global Asset Management has announced that unitholders approved the merger of five ETFs and changes to the investment objectives of four others. The mergers, which aim to streamline CI GAM's ETF offerings, will take effect after April 16, 2021. Notably, unitholders will receive equivalent units in the continuing ETFs, with the mergers designed to minimize tax implications for most. Furthermore, the management fees of the continuing ETFs will be the same or lower than those of the terminating ETFs, promoting greater efficiency. Estimated reinvested distributions are also scheduled for affected ETFs.

CI Financial Corp. (TSX: CIX; NYSE: CIXX) has agreed to acquire full ownership of Lawrence Park Asset Management, a Toronto-based firm specializing in alternative fixed-income investments, managing about C$600 million. The acquisition aims to integrate Lawrence Park's expertise into CI’s asset management strategy, enhancing its leadership in alternative investments. CI's subsidiary, CI Global Asset Management, is already Canada's largest provider in this space, managing $3.7 billion in assets. The transaction is expected to close in Q2 2021, subject to regulatory approval.

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.