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CIXX - CIXX STOCK NEWS

Welcome to our dedicated page for CIXX news (Ticker: CIXX), a resource for investors and traders seeking the latest updates and insights on CIXX stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect CIXX's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of CIXX's position in the market.

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CI Global Asset Management has filed a preliminary prospectus for the CI Auspice Broad Commodity ETF (CCOM), highlighting its focus on providing portfolio diversification and inflation protection through commodity exposure. CCOM aims to replicate the performance of the Auspice Broad Commodity Excess Return Index, investing in futures contracts across agriculture, energy, and metals sectors. The index is developed by Auspice Capital Advisors, based in Calgary. The prospectus, dated August 19, 2022, is available for review, and the ETF's launch is pending the final prospectus receipt.

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CGI and CI Financial have initiated a long-term partnership to transform CI's investment fund transfer agency operations. CGI will manage and modernize CI's proprietary transfer agency platform, shifting it to a software-as-a-service (SaaS) model. The collaboration aims to enhance service capabilities and efficiency, benefiting clients and employees alike. CI will maintain its role as the transfer agent while leveraging CGI's technological expertise and global resources to accelerate digital transformation. This partnership marks a significant milestone for both companies in the financial services sector.

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CI Financial Corp and CGI have forged a long-term strategic partnership to enhance CI's investment fund transfer agency operations through a modernized software-as-a-service platform. CGI will manage CI’s proprietary transfer agency platform, improving operational efficiency and client service. This collaboration aligns with CI's ongoing digital transformation strategy initiated in 2019, which has already garnered industry recognition. CI will retain its transfer agency role while leveraging CGI’s expertise to support growth and innovation.

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CI Global Asset Management announced regular cash distributions for its ETFs for August 2022, payable on or before August 31, 2022. Key distributions include CI Canadian Convertible Bond ETF (CXF) at $0.0400 and CI High Interest Savings ETF (CSAV) at $0.1166. Unitholders of record will be noted as of August 25, 2022, with ex-dividend dates varying. The CI Distribution Reinvestment Plan allows unitholders to reinvest cash distributions automatically.

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CI Financial Corp. reported preliminary total assets of $348.5 billion as of July 31, 2022, reflecting a 4.4% increase from $333.7 billion in June 2022. Major asset classifications include $121.5 billion in asset management, $77.3 billion in Canadian wealth management, and $149.7 billion in U.S. wealth management. Year-over-year, total assets rose 15.2% from $302.6 billion in July 2021. The company's average AUM for July 2022 stood at $117.8 billion, depicting a -1.1% decrease from the previous month.

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CI Financial Corp. reported a diluted EPS of $0.81 and an adjusted EPS of $0.78 for Q2 2022, with a pre-tax income of $219.0 million and adjusted EBITDA of $251.0 million. The company achieved a 12% year-over-year increase in total assets, reaching $333.7 billion. Despite market volatility, CI's U.S. wealth management operations contributed positively to revenue. The company repurchased 4.1 million shares for $59.8 million and declared a quarterly dividend of $0.18 per share. CI also announced plans for a potential IPO of up to 20% of its U.S. wealth management business.

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CI Global Asset Management announced a transaction where it disposed of 710,000 shares of G Mining Ventures Corp, reducing its holdings from 10.068% to 9.786%. The shares were sold for approximately $599,950 at $0.85 each. Following this, CI GAM exercised 5,286,417 warrants into common shares at $0.80 per share. These transactions, conducted for investment purposes, reflect CI GAM's active management strategy. An early warning report regarding these transactions is to be filed on SEDAR.

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CI Financial Corp. reported preliminary assets of $333.7 billion as of June 30, 2022, marking a 4.5% decrease from $349.6 billion in May. Key segments include asset management at $116.1 billion, Canadian wealth management at $74.1 billion, and U.S. wealth management at $143.5 billion. The firm experienced $3.5 billion in redemptions, largely due to low-fee institutional accounts. CI continued strategic initiatives, acquiring several firms and launching new investment products.

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CI Financial Corp. (CIXX) is set to announce its second quarter financial results for fiscal 2022 on August 11, 2022. A conference call will be held at 9:00 a.m. EDT, featuring CEO Kurt MacAlpine and CFO Amit Muni. Investors can access the call via a live webcast or through toll-free numbers in Canada and the United States. As of May 31, 2022, CI managed approximately C$349.6 billion (US$276.4 billion) in client assets. CI Financial is an integrated global wealth and asset management company, actively involved in multiple sectors.

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CI Global Asset Management has announced updated risk ratings for several mutual funds, effective immediately. The new ratings reflect a shift from 'Low-to-Medium' to 'Medium' for the CI U.S. Dividend Fund and CI U.S. Dividend Registered Fund, while the CI Mosaic Growth ETF Portfolio's rating has been adjusted from 'Medium' to 'Low-to-Medium'. These changes stem from CI GAM's annual review process and comply with the Canadian Securities Administrators' risk classification methodology. The fund's investment strategies and management remain unchanged.

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FAQ

What is the market cap of CIXX (CIXX)?

The market cap of CIXX (CIXX) is approximately 2.1B.

CIXX

NYSE:CIXX

CIXX Rankings

CIXX Stock Data

2.10B
Securities and Commodity Exchanges
Finance and Insurance
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Canada
Toronto