Canadian General Investments: Investment Update - Unaudited
06 February 2024 - 8:18AM
Canadian General Investments, Limited (CGI) (TSX:CGI) (LSE:
CGI) reports on an unaudited basis that its net asset value per
share (NAV) at January 31, 2024 was $56.94, resulting in
year-to-date and 12-month NAV returns, with dividends reinvested,
of 2.4% and 9.4%, respectively. These compare with the 0.6% and
4.6% 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 January 31, 2024, the leverage represented
14.7% of CGI’s net assets, down from 15.1% at the end of 2023 and
up from 13.6% at January 31, 2023.
The closing price for CGI’s common shares at
January 31, 2024 was $35.80, resulting in year-to-date and 12-month
share price returns, with dividends reinvested, of 3.1% and 9.7%,
respectively.
The sector weightings of CGI’s investment
portfolio at market as of January 31, 2024 were as follows:
Industrials |
24.1 |
% |
Information
Technology |
21.2 |
% |
Financials |
13.5 |
% |
Energy |
12.1 |
% |
Consumer
Discretionary |
10.7 |
% |
Materials |
10.3 |
% |
Real
Estate |
4.6 |
% |
Communication Services |
1.9 |
% |
Cash &
Cash Equivalents |
0.8 |
% |
Consumer
Staples |
0.8 |
% |
The top ten investments which comprised 37.7% of the investment
portfolio at market as of January 31, 2024 were as follows:
NVIDIA Corporation |
5.9 |
% |
Canadian
Pacific Kansas City Limited |
4.6 |
% |
TFI
International Inc. |
4.5 |
% |
Apple
Inc. |
3.5 |
% |
The
Descartes Systems Group Inc. |
3.5 |
% |
WSP Global
Inc. |
3.4 |
% |
West Fraser
Timber Co. Ltd. |
3.3 |
% |
Mastercard
Incorporated |
3.2 |
% |
Franco-Nevada Corporation |
3.1 |
% |
Shopify
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
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