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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.
Segall Bryant & Hamill has promoted Zachary Rosenstock to Assistant Portfolio Manager on the Small Cap ROIC team specializing in Small Cap Core and SMID Cap strategies. Having been with the firm since 2011 as a Senior Equity Analyst, Rosenstock will enhance his focus on portfolio strategy and broaden his research beyond technology. The firm's investment philosophy emphasizes high Return on Invested Capital (ROIC) to drive long-term outperformance in small caps. CI Financial Corp. is set to acquire SBH, anticipated to close in Q2 2021.
CI Financial Corp. (CIX, CIXX) announced the redemption price for its $325 million 3.520% debentures due July 20, 2023. The redemption date is set for February 19, 2021. Investors will receive $107.002 per $100 principal plus $0.280 in accrued interest. CI Financial, as of January 31, 2021, manages approximately C$231.8 billion in client assets and offers global asset and wealth management services. The announcement highlights CI's proactive financial management strategy.
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.
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