Canadian General Investments: Investment Update - Unaudited
TORONTO, Canada, Sept. 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 August 31, 2024 was $63.63 resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 15.8% and 12.4%, respectively. These compare with the 13.7% and 18.8% 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, 2024, the leverage represented 13.2% of CGI’s net assets, down from 15.1% at the end of 2023 and 14.6% at August 31, 2023.
The closing price for CGI’s common shares at August 31, 2024 was $38.05, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 11.8% and 6.2%, respectively.
The sector weightings of CGI’s investment portfolio at market as of August 31, 2024 were as follows:
| Information Technology | 22.9 | % |
| Industrials | 22.3 | % |
| Financials | 13.5 | % |
| Materials | 12.3 | % |
| Energy | 12.3 | % |
| Consumer Discretionary | 10.1 | % |
| Real Estate | 4.4 | % |
| Communication Services | 1.5 | % |
| Cash & Cash Equivalents | 0.7 | % |
The top ten investments which comprised 39.0% of the investment portfolio at market as of August 31, 2024 were as follows:
| NVIDIA Corporation | 6.9 | % |
| TFI International Inc. | 4.6 | % |
| Canadian Pacific Kansas City Limited | 4.2 | % |
| Apple Inc. | 3.9 | % |
| The Descartes Systems Group Inc. | 3.6 | % |
| WSP Global Inc. | 3.5 | % |
| West Fraser Timber Co. Ltd. | 3.3 | % |
| Franco-Nevada Corporation | 3.1 | % |
| Mastercard Incorporated | 3.1 | % |
| Dollarama Inc. | 2.8 | % |
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
