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FOR: CANADIAN GENERAL INVESTMENTS, LIMITED
TSX: CGI
LONDON STOCK EXCHANGE: CGI
January 4, 2024
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 December 31, 2023 was $55.63, resulting in a one-year NAV return, with dividends reinvested, of 17.4%. This compares with the 11.8% return of the benchmark S&P/TSX Composite Index on a total return basis for the same period.
The Company employs a leveraging strategy, by way of bank borrowing, with the intent to enhance returns to common shareholders. As at December 31, 2023, the leverage represented 15.1% of CGI's net assets, up from 14.9% at the end of 2022.
The closing price for CGI's common shares at December 31, 2023 was $34.73, resulting in an annual share price return, with dividends reinvested, of 9.5%.
The sector weightings of CGI's investment portfolio at market as of December 31, 2023 were as follows:
|
Industrials |
25.3% |
|
Information Technology |
21.9% |
|
Energy |
12.4% |
|
Financials |
10.8% |
|
Consumer Discretionary |
10.8% |
|
Materials |
10.7% |
|
Real Estate |
4.6% |
|
Communication Services |
2.0% |
|
Cash & Cash Equivalents |
0.8% |
|
Health Care |
0.7% |
The top ten investments which comprised 36.6% of the investment portfolio at market as of December 31, 2023 were as follows:
|
NVIDIA Corporation |
4.7% |
|
TFI International Inc. |
4.7% |
|
Canadian Pacific Kansas City Limited |
4.5% |
|
Apple Inc. |
3.7% |
|
West Fraser Timber Co. Ltd. |
3.5% |
|
The Descartes Systems Group Inc. |
3.3% |
|
WSP Global Inc. |
3.3% |
|
Franco-Nevada Corporation |
3.2% |
|
Mastercard Incorporated |
3.0% |
|
Bank of Montreal |
2.7% |
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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