CIXX - CIXX STOCK NEWS

CI Financial Corp reported preliminary total assets of $349.6 billion as of May 31, 2022. This includes $124.3 billion in assets under management, $78.2 billion in Canadian wealth management, and $147.2 billion in U.S. wealth management. Compared to April 2022, total assets declined by -1.8%, while year-over-year, total assets increased by 23.9%.

Asset management saw a -3.2% decrease from April 2022 and -8.7% from May 2021.

CI Global Asset Management has announced changes to the risk ratings of select mutual funds, effective immediately. The CI Conservative Income Personal Portfolio has shifted from a Low to a Low-to-Medium risk rating, while the CI North American Dividend Fund has changed from Low-to-Medium to Medium. These adjustments come after an annual review based on the Canadian Securities Administrators' methodology. Importantly, these rating changes do not affect the funds' investment objectives or management.

CI Financial Corp. (NYSE:CIXX) has gained approval from the Toronto Stock Exchange for a Normal Course Issuer Bid to repurchase up to 16,828,703 common shares, representing 10% of its public float. The buyback is set to start on June 20, 2022, and run until June 19, 2023. CI aims to enhance shareholder value, believing its shares are undervalued. Previously, CI repurchased 13,758,187 shares at an average price of $20.53 under a prior buyback. A pre-approved Automatic Securities Purchase Plan with National Bank Financial will facilitate share purchases during blackout periods.

CI Global Asset Management announced regular cash distributions for CI ETFs for the quarter ending June 30, 2022. Distributions will be paid on or before June 30, 2022, to unitholders of record on June 24, 2022, with an ex-dividend date of June 23, 2022, for most ETFs. The distribution amounts vary across various ETFs, with significant figures including CI Gold+ Giants at $0.2725 and CI Tech Giants at $0.4460. Additionally, CI announced a Distribution Reinvestment Plan (DRIP) to support investors by reinvesting cash distributions automatically.

CI Global Asset Management (CI GAM) announced its compliance with the Global Investment Performance Standards (GIPS®) as verified by a third party. This achievement reflects CI GAM's commitment to transparency and ethical investment practices. The GIPS standards are voluntary guidelines aimed at ensuring fair representation of investment performance and have been adopted by 1,800 organizations globally. CI GAM's verification was conducted by The Spaulding Group, enhancing trust with investor clients and aligning with industry best practices.

CI Global Asset Management has partnered with HarbourVest Partners to offer Canadian accredited investors access to a diversified global portfolio of private infrastructure investments. This partnership aims to provide stable, inflation-protected income opportunities at a time of market uncertainty, leveraging HarbourVest's extensive experience in private markets investing. The targeted sectors include utilities, transportation, renewable energy, and communications, enhancing CI GAM's existing alternative investment offerings, which include a private credit fund and a global real estate fund.

CI Global Asset Management has announced immediate changes to the risk ratings of several CI WisdomTree ETFs. The adjustments were made following the Canadian Securities Administrators' mandated methodology for mutual fund risk classification. The affected ETFs include the CI WisdomTree International Quality Dividend Growth Variably Hedged Index ETF, the CI WisdomTree U.S. Quality Dividend Growth Index ETF, and the CI WisdomTree International Quality Dividend Growth Index ETF. All changes reflect an annual review without alterations to investment strategies or management.

CI Financial Corp reported preliminary total assets of $354.6 billion as of April 30, 2022. This includes assets under management of $128.4 billion, Canadian wealth management assets of $77.5 billion, and U.S. wealth management assets of $148.7 billion. During April, CI completed acquisitions of Corient Capital Partners, Northwood Family Office, and Galapagos Partners, expanding its segment reporting.