CI Financial Reports Total Assets of $391.1 Billion for March 2023

CI Financial Corp. (“CI”) (TSX: CIX) today reported preliminary total assets of $391.1 billion as at March 31, 2023, consisting of asset management assets of $122.0 billion, Canadian wealth management assets of $81.6 billion, and U.S. wealth management assets of $187.5 billion.

CI also reported preliminary net sales results for its asset management businesses for the first quarter of 2023. CI’s Canadian retail business had net sales of $0.8 billion, representing the third consecutive quarter of positive net sales. CI’s overall net sales were $0.3 billion for the quarter.

CI FINANCIAL CORP. March 31, 2023 PRELIMINARY MONTH-END ASSETS (C$ Billions)
ENDING ASSETS	March 2023	February 2023	% Change	March 2022	% Change
Asset management⁽¹⁾	$122.0	$121.9	0.1%	$136.3	-10.5%
Canada wealth management	$81.6	$81.1	0.6%	$79.0	3.3%
U.S. wealth management ⁽²⁾	$187.5	$186.2	0.7%	$145.8	28.6%
TOTAL ASSETS	$391.1	$389.2	0.5%	$361.0	8.3%

ASSET MANAGEMENT - AVERAGE AUM	March 2022	February 2023	December 2022	Fiscal 2022	% Change
Monthly average	$121.2	$123.1	-	-	-1.5%
Quarter-to-date average	$121.9	-	$117.7	-	3.6%
Year-to-date average	$121.9	-	-	$125.0	-2.5%

PRELIMINARY QUARTER-END NET SALES RESULTS (C$ billions)
ASSET MANAGEMENT	1Q23	4Q22	3Q22	2Q22	1Q22
Canadian retail	$0.8	$1.6	$0.6	($0.4)	($0.9)
Canadian institutional	($0.2)	($0.2)	($0.0)	($3.2)	($0.3)
Australian asset management	($0.1)	$0.0	($0.4)	($0.1)	($0.3)
Closed business	($0.2)	($0.2)	($0.1)	($0.2)	($0.2)
TOTAL ASSET MANAGEMENT SEGMENT	$0.4	$1.3	$0.1	($3.9)	($1.6)
U.S. asset management ⁽³⁾	($0.1)	$0.6	($0.0)	($0.2)	$0.4

Includes $33.0 billion of assets managed by CI and held by clients of advisors with Assante, CIPC and Aligned Capital as at March 31, 2023 ($32.9 billion at February 28, 2023 and $34.5 billion at March 31, 2022).
Month-end USD/CAD exchange rates of 1.3515, 1.3645 and 1.2505 for March 2023, February 2023 and March 2022, respectively.
Includes 100% of inflows from CI’s minority investments in Columbia Pacific Advisors, OCM Capital Partners, The Cabana Group, and GLASfunds Holdings.

About CI Financial

CI Financial Corp. is a diversified global asset and wealth management company operating primarily in Canada, the United States and Australia. Founded in 1965, CI has developed world-class portfolio management talent, extensive capabilities in all aspects of wealth planning, and a comprehensive product suite.

CI operates in three segments:

Asset Management, which includes CI Global Asset Management, which operates in Canada, and GSFM Pty Ltd., which operates in Australia.
Canadian Wealth Management, which includes the operations of CI Assante Wealth Management, Aligned Capital Partners, CI Private Wealth (Canada), Northwood Family Office, CI Direct Investing and CI Investment Services.
U.S. Wealth Management, which includes CI Private Wealth US, a national network of best-in-class wealth management teams.

CI is headquartered in Toronto and listed on the Toronto Stock Exchange (TSX: CIX). To learn more, visit CI’s website or LinkedIn page.

CI Global Asset Management is a registered business name of CI Investments Inc., a wholly owned subsidiary of CI Financial Corp.

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