CI Financial Corp. (“CI”) (TSX:CIX.TO) today released financial results for the quarter ended December 31, 2022.
“CI’s strong performance during an extended period of financial market volatility reflects the continued successful execution of the three pillars of our corporate strategy,” said Kurt MacAlpine, CI Chief Executive Officer.
“In the fourth quarter, robust net flows in our Canadian and U.S. businesses, along with the acquisition of three best-in-class U.S. registered investment advisor firms, drove double-digit asset growth.
“In Canadian asset management, we continue to see the benefits of the transformation of our investment management function from a group of independent boutiques into an integrated, global platform,” Mr. MacAlpine said. “In the fourth quarter, our Canadian retail business delivered $1.6 billion in positive net flows, versus net redemptions of more than $10 billion for the Canadian industry overall. Our relative investment results continue to be strong and our investment professionals received extensive industry recognition for their performance, winning 14 Refinitiv Lipper Fund Awards and 39 FundGrade A+ Awards for 2022.
“Our wealth management businesses had total net flows in 2022 of $6.6 billion in the U.S. and $3.8 billion in Canada, a testament to the excellence of our advisor teams and our differentiated approach to wealth management – which offers exceptional value to clients, especially during these uncertain times,” Mr. MacAlpine said. “We continue to make significant investments into advancing the technology, support and services of our Canadian wealth platform.
Leave a Reply
You must be logged in to post a comment.