Canadian General Investments: Investment Update - Unaudited
TORONTO, Canada, Nov. 03, 2023 (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 October 31, 2023 was $50.60, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 6.3% for both periods. These compare with the 0.1% and 0.4% returns of the benchmark S&P/TSX Composite Index on a total return basis for the same periods.
The Company employs a leveraging strategy, by way of bank borrowing, with the intent to enhance returns to common shareholders. As at October 31, 2023, the leverage represented 16.6% of CGI’s net assets, up from 14.9% at the end of 2022 and 14.8% at October 31, 2022.
The closing price for CGI’s common shares at October 31, 2023 was $32.58, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 2.0% and 6.7%, respectively.
The sector weightings of CGI’s investment portfolio at market as of October 31, 2023 were as follows:
| Information Technology | 23.3% | ||
| Industrials | 22.0% | ||
| Energy | 13.3% | ||
| Materials | 12.9% | ||
| Consumer Discretionary | 11.7% | ||
| Financials | 9.5% | ||
| Real Estate | 4.3% | ||
| Communication Services | 1.8% | ||
| Health Care | 0.8% | ||
| Cash & Cash Equivalents | 0.4% |
The top ten investments which comprised 40.0% of the investment portfolio at market as of October 31, 2023 were as follows:
| NVIDIA Corporation | 7.1% | ||
| Canadian Pacific Kansas City Limited | 4.6% | ||
| TFI International Inc. | 4.4% | ||
| Apple Inc. | 4.0% | ||
| Franco-Nevada Corporation | 4.0% | ||
| WSP Global Inc. | 3.5% | ||
| Mastercard Incorporated | 3.3% | ||
| The Descartes Systems Group Inc. | 3.3% | ||
| West Fraser Timber Co. Ltd. | 3.2% | ||
| Enerplus Corporation | 2.6% |
FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail:
website:
