Canadian General Investments: Investment Update
TORONTO, Canada, April 03, 2024 (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 March 31, 2024 was $62.80, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 13.4% and 22.2%, respectively. These compare with the 6.6% and 14.0% 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 March 31, 2024, the leverage represented 13.4% of CGI’s net assets, down from 15.1% at the end of 2023 and 16.0% at March 31, 2023.
The closing price for CGI’s common shares at March 31, 2024 was $37.69, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 9.3% and 17.3%, respectively.
The sector weightings of CGI’s investment portfolio at market as of March 31, 2024 were as follows:
|
Industrials |
24.7 |
% |
|
Information Technology |
21.0 |
% |
|
Energy |
13.5 |
% |
|
Financials |
13.0 |
% |
|
Materials |
10.6 |
% |
|
Consumer Discretionary |
9.6 |
% |
|
Real Estate |
4.2 |
% |
|
Cash & Cash Equivalents |
1.8 |
% |
|
Communication Services |
1.6 |
% |
The top ten investments which comprised 39.0% of the investment portfolio at market as of March 31, 2024 were as follows:
|
NVIDIA Corporation |
7.1 |
% |
|
TFI International Inc. |
5.1 |
% |
|
Canadian Pacific Kansas City Limited |
4.6 |
% |
|
WSP Global Inc. |
3.6 |
% |
|
The Descartes Systems Group Inc. |
3.3 |
% |
|
West Fraser Timber Co. Ltd. |
3.3 |
% |
|
Mastercard Incorporated |
3.2 |
% |
|
Franco-Nevada Corporation |
3.1 |
% |
|
Apple Inc. |
3.0 |
% |
|
Amazon.com, Inc. |
2.7 |
% |
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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