Canadian General Investments - Executive interview
Canadian General Investments (LSE:CGI and TSE:CGI) was launched in 1930, it is North America’s second-oldest closed-end fund. Since 1956, it has been managed by Morgan Meighen & Associates. Portfolio manager Greg Eckel invests with a medium- to long-term outlook in a broad selection of primarily Canadian equities, aiming to outperform the total return of the benchmark S&P/TSX Composite Index. CGI has a favourable tax status, but to maintain this, the company is unable to repurchase its shares to help manage the share price discount to net asset value. CGI has followed a levered strategy since 1998 and more than 50% of its shares are held by related parties.In this webcast, Morgan Meighen’s executive vice president and chief operating officer Jonathan Morgan discusses the outcome of the recent general election, and the free trade agreement. He then focuses on the health of the Canadian economy, including the housing sector. Morgan also highlights CGI’s gearing, distribution policy, portfolio activity and investment performance.
Canadian General Investments is a closed-end investment fund focused on medium to long-term investments in Canadian corporations. Co.'s investment objective is to provide better than average returns to investors through prudent security selection, timely recognition of capital gains/losses and appropriate income generating instruments. As of Dec 31 2010, Co. had total investment portfolio valued at C$647,103,000 and total assets valued at C$651,038,000.
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