CI Financial completes acquisition of First Asset Capital Corp.
TORONTO, Nov. 30, 2015 – CI Financial Corp. announced today that it has completed its acquisition of First Asset Capital Corp.
First Asset is a leader in providing actively managed and factor-based exchange-traded funds (ETFs) to the Canadian marketplace. The company, which has approximately $3 billion in assets under management, also offers a suite of mutual funds and closed-end funds. Terms of the transaction, which was first announced on October 23, 2015, were not disclosed.
First Asset will continue to operate as a separate company under its own name and current management team, led by President and Chief Executive Officer Barry H. Gordon. CI will be working with First Asset to build on its leadership in the actively managed ETF sector.
First Asset distributes its products through Canadian investment dealers and financial advisors. More information about its lineup is available at www.firstasset.com.
About CI Financial
CI Financial Corp. (TSX: CIX) is an independent, Canadian-owned wealth management company with approximately $142.3 billion in assets as of October 31, 2015. Its primary operating businesses are CI Investments Inc., one of Canada’s largest investment managers, and advisory businesses Assante Wealth Management and Stonegate Private Counsel. CI Financial is on the Web at www.cifinancial.com.
This press release contains forward-looking statements with respect to CI Financial and its products and services, including its business operations and strategy and financial performance and condition. Although management believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from expectations include, among other things, general economic and market factors, including interest rates, business competition, changes in government regulations or in tax laws, and other factors discussed in materials filed with applicable securities regulatory authorities from time to time.