CI Financial inks a deal to buy a strategic interest in Cabana Group

By Nikita Chaurasia  | Date: 2020-04-22

CI Financial inks a deal to buy a strategic interest in Cabana Group

CI Financial Corp., a Canadian asset management company, has recently inked an agreement with the Cabana Group, the holding firm of Cabana Asset Management based in Arkansas, to acquire a strategic interest in the firm. With this acquisition, CI Financial has now become the biggest shareholder in the investment advisor company, possessing US$1.1 billion in assets under management.

For the record, Cabana is known for offering a comprehensive suite of wealth planning and investment management services. It also provides an extremely successful lineup of risk-managed portfolios to its retail customers and on a sub-advisory basis to advisors and RIAs in the U.S.

Reportedly, Cabana’s Target Drawdown Portfolios, which is exclusive in the U.S., have attained robust results, with each portfolio being eligible and receiving the top five-star overall rating from Morningstar Inc. Evidently, these portfolios were created with a goal of curtailing losses amidst a predetermined drawdown parameter, while proactively partaking in supportive market conditions.

Speaking on the development, Kurt MacAlpine, Chief Executive Officer, CI Financial, said that the Target Drawdown Series has managed to produce strong demand and hugely contributed to Cabana’s exponential growth.

In the present market conditions where more and more people are demanding for successful retirement solutions, the Target Drawdown Series would be an ideal and timely opportunity for these customers. Besides, it would be able to tap into a wider audience base spread across both Canada and the U.S., explained MacAlpine.

As for Chadd Mason, Co-founder and Chief Executive Officer, Cabana, the company have always been searching for a strategic partner that would help it to more widely distribute its services and products the U.S. With CI’s clear vision, financial strength, dedication to creating a client-focused RIA business and expertise in wealth and asset management could massively benefit Cabana’s market share.

Source Credit: https://www.cifinancial.com/ci-financial-continues-us-wealth-expansion-acquisition-strategic-interest-cabana-group-0

About Author

Nikita Chaurasia     aeresearch.net

Nikita Chaurasia

An accomplished professional in the field of content development, playing with words comes naturally to Nikita Chaurasia. After completing her post-graduate MBA degree in Advertising and PR, Nikita worked across numerous content-driven verticals, undertaking diverse r...

Read More

More News By Nikita Chaurasia

Russia denies plans of blocking YouTube & cutting off from the internet

Russia denies plans of blocking YouTube & cutting off from the internet

By Nikita Chaurasia

The Digital Development Minister of Russia has reportedly stated that the country is not planning to block Google’s video streaming platform YouTube as such a move would affect its users and will therefore be avoided.  It is worth notin...

Indian food delivery giant Swiggy to buy Dineout from Times Internet

Indian food delivery giant Swiggy to buy Dineout from Times Internet

By Nikita Chaurasia

Swiggy, an Indian food delivery giant, has recently announced an agreement with Times Internet to buy Dineout, a dining and restaurant technology platform. Swiggy will use the acquisition to enter the dining out (non-delivery) market, where it will c...

Grocery delivery platform Instacart files for U.S. stock market debut

Grocery delivery platform Instacart files for U.S. stock market debut

By Nikita Chaurasia

Instacart, a grocery delivery service, has announced that it has submitted a provisional registration statement with the Securities and Exchange Commission (SEC), clearing the way for the company to list its shares on the U.S. stock exchange. The ...

Tyson Foods improves annual sales outlook as meat prices surge in U.S.

Tyson Foods improves annual sales outlook as meat prices surge in U.S.

By Nikita Chaurasia

American food major Tyson Foods Inc. has reportedly improved its full-year sales outlook after witnessing better-than-expected earnings and revenue in the last quarter. The company raised its full-year sales to around USD 54 billion, above the averag...

EU likely to enforce new rules to regulate tech giants in spring 2023

EU likely to enforce new rules to regulate tech giants in spring 2023

By Nikita Chaurasia

The Executive Vice President of the European Commission Margrethe Vestager reportedly claimed that the union is likely to start enforcing the Digital Markets Act (DMA) in the spring of 2023. The antitrust legislation, which aims to limit the power of...