Canadian General Investments: Investment Update - Unaudited
TORONTO, Canada, Dec. 05, 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 November 30, 2023 was $53.38, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 12.6% and 4.9%, respectively. These compare with the 7.5% and 2.3% 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 November 30, 2023, the leverage represented 15.7% of CGI’s net assets, up from 14.9% at the end of 2022 and 13.9% at November 30, 2022.
The closing price for CGI’s common shares at November 30, 2023 was $34.30, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 8.2% and 0.8%, respectively.
The sector weightings of CGI’s investment portfolio at market as of November 30, 2023 were as follows:
| Information Technology | 24.5% |
| Industrials | 23.3% |
| Energy | 13.1% |
| Consumer Discretionary | 10.8% |
| Materials | 10.5% |
| Financials | 10.0% |
| Real Estate | 4.4% |
| Communication Services | 2.0% |
| Health Care | 0.8% |
| Cash & Cash Equivalents | 0.6% |
The top ten investments which comprised 38.8% of the investment portfolio at market as of November 30, 2023 were as follows:
| NVIDIA Corporation | 6.7% |
| TFI International Inc. | 4.3% |
| Canadian Pacific Kansas City Limited | 4.3% |
| Apple Inc. | 4.1% |
| WSP Global Inc. | 3.4% |
| The Descartes Systems Group Inc. | 3.4% |
| Franco-Nevada Corporation | 3.4% |
| Mastercard Incorporated | 3.4% |
| West Fraser Timber Co. Ltd. | 3.2% |
| Shopify Inc. | 2.6% |
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
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