Canadian General Investments: Investment Update - Unaudited
TORONTO, Canada, June 05, 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 May 31, 2024 was $61.97, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 12.3% and 20.7%, respectively. These compare with the 7.6% and 17.6% 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 May 31, 2024, the leverage represented 13.5% of CGI’s net assets, down from 15.1% at the end of 2023 and 16.1% at May 31, 2023.
The closing price for CGI’s common shares at May 31, 2024 was $37.25, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 8.7% and 15.1%, respectively.
The sector weightings of CGI’s investment portfolio at market as of May 31, 2024 were as follows:
| Industrials | 22.1% | ||
| Information Technology | 21.7% | ||
| Energy | 15.1% | ||
| Financials | 13.2% | ||
| Materials | 11.2% | ||
| Consumer Discretionary | 9.7% | ||
| Real Estate | 3.8% | ||
| Communication Services | 1.6% | ||
| Cash & Cash Equivalents | 1.6% | ||
The top ten investments which comprised 38.9% of the investment portfolio at market as of May 31, 2024 were as follows:
| NVIDIA Corporation | 8.2% | ||
| TFI International Inc. | 4.3% | ||
| Canadian Pacific Kansas City Limited | 4.2% | ||
| Apple Inc. | 3.4% | ||
| The Descartes Systems Group Inc. | 3.4% | ||
| Franco-Nevada Corporation | 3.3% | ||
| WSP Global Inc. | 3.3% | ||
| West Fraser Timber Co. Ltd. | 3.1% | ||
| Mastercard Incorporated | 3.0% | ||
| Dollarama 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
