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CI Financial reports assets under management for May 2020


TORONTO, June 2, 2020 /CNW/ - CI Financial Corp. ("CI") (TSX: CIX) today reported preliminary assets under management at May 31, 2020 of $121.0 billion and assets under administration of $51.0 billion, for total fee-earning assets of $172.0 billion.

In the month of May, CI's assets under management increased by 1.8% and its Canadian assets under administration increased by 1.7%. Year over year, assets under management declined 5.6% while Canadian assets under administration improved 4.6%. Canadian assets under administration include the assets of Assante Wealth Management (Canada) Limited, CI Private Counsel LP, WealthBar Financial Services Inc. and Virtual Brokers.

CI's U.S. wealth management business consists of assets held by two registered investment advisory firms, of which CI holds majority interests: One Capital Management LLC and Surevest LLC. CI's interest in One Capital was finalized last month, bringing total U.S. assets under administration to $3.0 billion. Year-over-year data is not available due to the short period in which CI has held an interest in these businesses.

CI's average assets under management for the quarter-to-date were $116.7 billion, compared to the average of $127.2 billion for the first quarter of 2020.

Further information about CI's assets and financial position can be found below in the tables of statistics and on its website, www.cifinancial.com. These are the only statistics authorized by CI, and CI takes no responsibility for reporting by any external sources. Please note, the increased debt indicated in the chart below is a result of a $450 million debenture offering, which was completed on May 26, 2020.

CI FINANCIAL CORP.

May 31, 2020

PRELIMINARY MONTH-END STATISTICS

(All numbers in Canadian dollars)

ENDING ASSETS

May 31/20
(billions)

Apr 30/20
(billions)

%
Change

May 31/19
(billions)

%
Change

Assets under management

$121.0

$118.9

1.8%

$128.2

-5.6%

US wealth management

3.0

0.5

500.0%

-

n/a

Canadian wealth management1

48.0

47.2

1.7%

45.9

4.6%

TOTAL

$172.0

$166.6

3.2%

$174.1

-1.2%

 

MONTHLY AVERAGE

ASSETS UNDER MANAGEMENT

May 31/20

(billions)

April 30/20

(billions)

%

Change

Monthly average

$118.7

$114.6

3.6%

 

FISCAL QUARTER AVERAGE

ASSETS UNDER MANAGEMENT

May 31/20

(billions)

March 31/20

(billions)

%

Change

Fiscal quarter average

$116.7

$127.2

-8.3%

 

FISCAL YEAR AVERAGE

ASSETS UNDER MANAGEMENT

Fiscal 2020

(billions)

Fiscal 2019

(billions)

%

Change

Fiscal year average

$123.0

$129.8

-5.2%

 

EQUITY

(millions)

Total outstanding shares (TSX)

217.2

QTD weighted avg. shares

216.6

 

FINANCIAL POSITION

(millions)

Debt outstanding

$2,025

Cash

$536

Net debt outstanding

$1,366

Investments

$101



1

Includes assets managed by CI and held by clients of advisors with Assante and Stonegate Private Counsel.

 

About CI Financial
CI Financial Corp. (TSX: CIX) is an independent company offering global asset management and wealth management advisory services. CI's primary asset management businesses are CI Investments Inc. and GSFM Pty Ltd., and it operates in wealth management through Assante Wealth Management (Canada) Ltd., CI Private Counsel LP, WealthBar Financial Services Inc., BBS Securities Inc., One Capital Management, LLC and Surevest LLC. Further information is available at www.cifinancial.com.

SOURCE CI Financial Corp.


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