Canadian General Investments: Investment Update - Unaudited

October 5, 2021 12:02 PM EDT

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TORONTO, Canada, Oct. 05, 2021 (GLOBE NEWSWIRE) -- Canadian General Investments, Limited (TSX: CGI) (TSX: CGI.PR.D) (LSE: CGI) (CGI) reports on an unaudited basis that its net asset value per share (NAV) at September 30, 2021 was $57.89, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 17.1% and 40.7%, respectively. These compare with the 17.5% and 28.0% 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 preference shares and bank borrowing, in an effort to enhance returns to common shareholders. As at September 30, 2021, the combined leverage afforded by both forms of leverage represented 14.5% of CGI’s net assets, down from 16.8% at the end of 2020 and 20.1% at September 30, 2020.

The worldwide spread of novel coronavirus (COVID-19) and its impact on such factors as business operations, supply chains, travel, commodity prices and consumer confidence, and the associated impact on domestic and international equity markets and fixed income yields, is expected to continue to have a significant influence on the equity markets and could significantly impact the value of investments held by CGI. Morgan Meighen & Associates Limited, the manager of the Company, will maintain its consistent, steady, long-term approach of holding diversified, appropriate investments, while pursuing selective new opportunities.

The closing price for CGI’s common shares at September 30, 2021 was $39.06, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 14.2% and 50.8%, respectively.

The sector weightings of CGI’s investment portfolio at market as of September 30, 2021 were as follows:

 Information Technology28.3% 
 Industrials20.4% 
 Materials15.7% 
 Consumer Discretionary11.3% 
 Financials10.7% 
 Energy6.2% 
 Real Estate4.2% 
 Communication Services2.0% 
 Health Care0.9% 
 Cash & Cash Equivalents0.3% 
     

The top ten investments which comprised 37.5% of the investment portfolio at market as of September 30, 2021 were as follows:

 Shopify Inc.5.6% 
 NVIDIA Corporation4.8% 
 Lightspeed Commerce Inc.4.1% 
 West Fraser Timber Co. Ltd.3.9% 
 Franco-Nevada Corporation3.4% 
 Canadian Pacific Railway Limited3.4% 
 TFI International Inc.3.3% 
 First Quantum Minerals Ltd.3.0% 
 The Descartes Systems Group Inc.3.0% 
 Amazon.com, Inc.3.0% 
     

FOR FURTHER INFORMATION PLEASE CONTACT: Canadian General Investments, Limited Jonathan A. Morgan President and CEO Phone: (416) 366-2931 Fax: (416) 366-2729 e-mail: cgifund@mmainvestments.com website: www.canadiangeneralinvestments.ca

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Source: Canadian General Investments, Limited


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