Canadian General Investments: Investment Update - Unaudited
TORONTO, Canada, Nov. 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 October 31, 2024 was $66.42 resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 20.9% and 33.5%, respectively. These compare with the 18.2% and 32.1% 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 October 31, 2024, the leverage represented 14.4% of CGI’s net assets, down from 15.1% at the end of 2023 and 16.6% at October 31, 2023.
The closing price for CGI’s common shares at October 31, 2024 was $39.75, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 16.8% and 25.3%, respectively.
The sector weightings of CGI’s investment portfolio at market as of October 31, 2024 were as follows:
| Information Technology | 24.0 | % |
| Industrials | 22.7 | % |
| Financials | 13.3 | % |
| Materials | 12.4 | % |
| Energy | 12.3 | % |
| Consumer Discretionary | 9.6 | % |
| Real Estate | 4.2 | % |
| Communication Services | 1.0 | % |
| Cash & Cash Equivalents | 0.5 | % |
The top ten investments which comprised 39.3% of the investment portfolio at market as of October 31, 2024 were as follows:
| NVIDIA Corporation | 7.6 | % |
| TFI International Inc. | 4.1 | % |
| Canadian Pacific Kansas City Limited | 3.9 | % |
| Apple Inc. | 3.8 | % |
| WSP Global Inc. | 3.7 | % |
| The Descartes Systems Group Inc. | 3.6 | % |
| Franco-Nevada Corporation | 3.4 | % |
| West Fraser Timber Co. Ltd. | 3.3 | % |
| 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
