TORONTO, Canada, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Canadian General Investments, Limited (CGI) reports on an unaudited basis that its net asset value per share (NAV) at August 31, 2023 was $57.57, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 20.9% and 21.6%, respectively. These compare with the 6.9% and 8.5% 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 August 31, 2023, the leverage represented 14.6% of CGI’s net assets, down from 14.9% at the end of 2022 and up from 14.4% at August 31, 2022.

The closing price for CGI’s common shares at August 31, 2023 was $36.80, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 15.3% and 18.0%, respectively.

The sector weightings of CGI’s investment portfolio at market as of August 31, 2023 were as follows:

	Information Technology	23.4	%
	Industrials	22.0	%
	Materials	16.0	%
	Energy	10.9	%
	Consumer Discretionary	10.8	%
	Financials	9.3	%
	Real Estate	4.4	%
	Communication Services	1.8	%
	Cash & Cash Equivalents	0.8	%
	Health Care	0.6	%

The top ten investments which comprised 42.2% of the investment portfolio at market as of August 31, 2023 were as follows:

	NVIDIA Corporation	7.4	%
	First Quantum Minerals Ltd.	4.7	%
	TFI International Inc.	4.7	%
	Canadian Pacific Kansas City Limited	4.5	%
	Franco-Nevada Corporation	4.1	%
	Apple Inc.	3.8	%
	West Fraser Timber Co. Ltd.	3.7	%
	WSP Global Inc.	3.2	%
	Mastercard Incorporated	3.2	%
	The Descartes Systems Group Inc.	2.9	%

FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail: cgifund@mmainvestments.com
website: www.canadiangeneralinvestments.ca

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.