Canadian General Investments: Investment Update - Unaudited
TORONTO, Canada, Jan. 06, 2025 (GLOBE NEWSWIRE) -- Canadian General Investments, Limited (CGI) (TSX:CGI) (LSE: CGI) reports on an unaudited basis that its net asset value per share (NAV) at December 31, 2024 was $69.32, resulting in a one-year NAV return, with dividends reinvested, of 26.6%. This compares with the 21.6% return of the benchmark S&P/TSX Composite Index on a total return basis for the same period.
The Company employs a leveraging strategy, by way of bank borrowing, with the intent to enhance returns to common shareholders. As at December 31, 2024, the leverage represented 13.8% of CGI’s net assets, down from 15.1% at the end of 2023.
The closing price for CGI’s common shares at December 31, 2023 was $40.48, resulting in an annual share price return, with dividends reinvested, of 19.6%.
The sector weightings of CGI’s investment portfolio at market as of December 31, 2024 were as follows:
| Industrials | 23.4 | % |
| Information Technology | 23.0 | % |
| Financials | 13.4 | % |
| Energy | 12.3 | % |
| Materials | 11.2 | % |
| Consumer Discretionary | 9.7 | % |
| Real Estate | 4.2 | % |
| Cash & Cash Equivalents | 2.1 | % |
| Communication Services | 0.7 | % |
The top ten investments which comprised 36.3% of the investment portfolio at market as of December 31, 2024 were as follows:
| NVIDIA Corporation | 4.5 | % |
| TFI International Inc. | 4.1 | % |
| The Descartes Systems Group Inc. | 4.0 | % |
| Apple Inc. | 3.8 | % |
| Canadian Pacific Kansas City Limited | 3.6 | % |
| WSP Global Inc. | 3.6 | % |
| Mastercard Incorporated | 3.3 | % |
| Shopify Inc. | 3.2 | % |
| West Fraser Timber Co. Ltd. | 3.2 | % |
| Franco-Nevada Corporation | 3.0 | % |
FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail:
website:
