CIXX - CIXX STOCK NEWS

CI Global Asset Management has launched two new ETFs, the CI Bio-Revolution ETF (CDNA) and CI Digital Security ETF (CBUG), available for trading on the Toronto Stock Exchange. These ETFs focus on the booming sectors of biotechnology and cybersecurity, respectively, with a management fee of 0.40%. CI GAM continues to expand its ETF offerings, which now manage $15.1 billion across 78 mandates. The selection process utilizes Solactive's proprietary ARTIS algorithm to identify companies poised for growth in these sectors.

As of January 31, 2022, CI Financial Corp (CIXX) reported preliminary assets under management (AUM) totaling $372.5 billion, down 3.0% from $384.1 billion in December 2021. Core AUM in Canada and Australia decreased by 3.8% to $138.7 billion, while U.S. AUM fell 2.5% to $7.7 billion. Wealth management assets were $226.1 billion, a 2.5% decline from $232.0 billion. The decline in total AUM and wealth management assets signals potential challenges ahead for CI Financial.

CI Global Asset Management has announced a reduction in management fees for the CI Floating Rate Income Fund, effective immediately. The fees for Series F and A have been lowered by 40 basis points to 0.35% and 0.85%, respectively, making it competitive within its category. The Fund has shown strong performance since its inception on June 1, 2017, ranking as the top fund in its category and earning a five-star rating from Morningstar Canada. An ETF series is set to launch around April 19, 2022, further bolstering investment options.

CI Financial Corp. (TSX: CIX, NYSE: CIXX) reported record financial results for Q4 2021, achieving a basic EPS of $0.63 and adjusted EPS of $0.87. The firm’s EBITDA per share reached $1.21, with total assets soaring to $384.1 billion, a 65.9% increase year-over-year. The company acquired eight RIAs, managing a combined $43.3 billion, and reported $6.6 billion in net asset flows. U.S. wealth management surpassed $100 billion in assets, while the quarterly dividend remained at $0.18, totaling $35.6 million.

CI Financial Corp. has announced its agreement to acquire Corient Capital Partners, a wealth management firm overseeing US$5 billion in assets. This transaction will increase CI's U.S. wealth management assets to approximately US$125 billion and global assets under management to US$311 billion. The acquisition is anticipated to close in Q2 of 2022, pending regulatory approvals. Corient's expertise in serving ultra-high-net-worth clients aligns with CI's growth strategy in the wealth management sector.

CI Financial Corp. has appointed Sarah M. Ward to its Board of Directors, effective immediately. With over 35 years in banking and business law, she previously served as a partner at Skadden, Arps, Slate, Meagher & Flom LLP. This appointment comes as CI's largest business is U.S. wealth management, highlighting the relevance of her experience. Additionally, Sheila Murray, a long-serving director, will not stand for re-election, ending her significant tenure.

CI Global Asset Management has announced regular cash distributions for its ETFs, payable by February 28, 2022, to unitholders on record by February 22, 2022. The ex-dividend date is set for February 18, 2022, except for the CI High Interest Savings ETF, which will have a different date. The press release includes detailed distribution amounts for various ETFs, such as CI Canadian Convertible Bond ETF (CXF) at $0.0400 and CI Active Utility & Infrastructure ETF (FAI) at $0.0444. Investors can opt for DRIP to reinvest distributions automatically.

CI Financial Corp (NYSE: CIXX) has announced a strategic investment in Newton Crypto Ltd., acquiring a minority stake as part of a US$20 million Series B funding round completed on February 4, 2022. This investment values Newton at approximately US$200 million and aims to enhance CI's leadership in digital assets in Canada. CI Global Asset Management, known for its ETFs and mutual funds investing in Bitcoin and Ether, plans to extend crypto trading capabilities to its wealth management clients, reinforcing its commitment to digital finance.

CI Global Asset Management has launched the CI Galaxy Multi-Crypto ETF, which begins trading on the Toronto Stock Exchange under the tickers CMCX.B and CMCX.U. This ETF aims to provide exposure to bitcoin and ether while managing volatility through systematic allocations. The fund, sub-advised by Galaxy Digital Asset Management, incorporates a momentum-driven trading model. With a management fee of 0.50%, it is positioned as one of the lowest-cost diversified cryptocurrency funds. CEO Kurt MacAlpine emphasizes its role in facilitating easier cryptocurrency investments.