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FOR: CANADIAN GENERAL INVESTMENTS, LIMITED
TSX: CGI
LONDON STOCK EXCHANGE: CGI
August 3, 2023
Canadian General Investments: Investment Update - Unaudited
TORONTO, CANADA - Canadian General Investments, Limited (CGI) reports on an unaudited basis that its net asset value per share (NAV) at July 31, 2023 was $58.05, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 21.4% and 19.2%, respectively. These compare with the 8.4% and 8.2% 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 July 31, 2023, the leverage represented 14.5% of CGI's net assets, down from 14.9% at the end of 2022 and up from 14.0% at July 31, 2022.
The closing price for CGI's common shares at July 31, 2023 was $36.40, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 13.3% and 12.8%, respectively.
The sector weightings of CGI's investment portfolio at market as of July 31, 2023 were as follows:
|
Information Technology |
22.7% |
|
Industrials |
21.7% |
|
Materials |
16.8% |
|
Energy |
10.8% |
|
Consumer Discretionary |
10.8% |
|
Financials |
9.7% |
|
Real Estate |
4.3% |
|
Communication Services |
1.8% |
|
Cash & Cash Equivalents |
0.7% |
|
Health Care |
0.7% |
The top ten investments which comprised 41.7% of the investment portfolio at market as of July 31, 2023 were as follows:
|
NVIDIA Corporation |
6.8% |
|
First Quantum Minerals Ltd. |
5.1% |
|
Canadian Pacific Kansas City Limited |
4.5% |
|
TFI International Inc. |
4.3% |
|
West Fraser Timber Co. Ltd. |
4.1% |
|
Franco-Nevada Corporation |
4.0% |
|
Apple Inc. |
3.9% |
|
WSP Global Inc. |
3.1% |
|
The Descartes Systems Group Inc. |
3.0% |
|
Mastercard Incorporated |
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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