Canadian General Investments: Investment Update - Unaudited
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E-mailTORONTO, Canada, Sept. 06, 2023 (GLOBE NEWSWIRE) -- Canadian General Investments, Limited (CGI) reports on an unaudited basis that its net asset value per share (NAV) at August 31, 2023 was $57.57, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 20.9% and 21.6%, respectively. These compare with the 6.9% and 8.5% 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, 2023, the leverage represented 14.6% of CGI’s net assets, down from 14.9% at the end of 2022 and up from 14.4% at August 31, 2022.
The closing price for CGI’s common shares at August 31, 2023 was $36.80, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 15.3% and 18.0%, respectively.
The sector weightings of CGI’s investment portfolio at market as of August 31, 2023 were as follows:
| Information Technology | 23.4 | % | |
| Industrials | 22.0 | % | |
| Materials | 16.0 | % | |
| Energy | 10.9 | % | |
| Consumer Discretionary | 10.8 | % | |
| Financials | 9.3 | % | |
| Real Estate | 4.4 | % | |
| Communication Services | 1.8 | % | |
| Cash & Cash Equivalents | 0.8 | % | |
| Health Care | 0.6 | % |
The top ten investments which comprised 42.2% of the investment portfolio at market as of August 31, 2023 were as follows:
| NVIDIA Corporation | 7.4 | % | |
| First Quantum Minerals Ltd. | 4.7 | % | |
| TFI International Inc. | 4.7 | % | |
| Canadian Pacific Kansas City Limited | 4.5 | % | |
| Franco-Nevada Corporation | 4.1 | % | |
| Apple Inc. | 3.8 | % | |
| West Fraser Timber Co. Ltd. | 3.7 | % | |
| WSP Global Inc. | 3.2 | % | |
| Mastercard Incorporated | 3.2 | % | |
| The Descartes Systems Group Inc. | 2.9 | % |
FOR FURTHER INFORMATION PLEASE CONTACT: Jonathan A. Morgan President & CEO Phone: (416) 366-2931 Fax: (416) 366-2729 e-mail: [email protected] website: www.canadiangeneralinvestments.ca
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