Canadian General Investments - Keeping the faith during stock market volatility
Canadian General Investments (CGI) has been managed by Greg Eckel at Morgan Meighen & Associates (MMA) since 2009. Despite elevated levels of stock market volatility, he is maintaining his disciplined approach to stock selection, seeking high-quality companies that can be held for the long term. The manager believes the chance of a recession in Canada is ‘slim to none in the near to medium term’ as the economy is in ‘good shape’. However, if changes to the portfolio are required, due to a sustained change in the investment backdrop, they will be undertaken in a measured way. CGI has a progressive dividend policy, paying regular quarterly dividends; the total distribution in FY21 was 4.8% higher year-on-year and the fund currently offers a 2.5% yield.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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