Canadian General Investments: Investment Update - Unaudited
November 03 2023 - 12:30PM
Canadian General Investments, Limited (CGI) (TSX:CGI) (LSE:
CGI) reports on an unaudited basis that its net asset value
per share (NAV) at October 31, 2023 was $50.60, resulting in
year-to-date and 12-month NAV returns, with dividends reinvested,
of 6.3% for both periods. These compare with the 0.1% and 0.4%
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 October 31, 2023, the leverage represented
16.6% of CGI’s net assets, up from 14.9% at the end of 2022 and
14.8% at October 31, 2022.
The closing price for CGI’s common shares at
October 31, 2023 was $32.58, resulting in year-to-date and 12-month
share price returns, with dividends reinvested, of 2.0% and 6.7%,
respectively.
The sector weightings of CGI’s investment
portfolio at market as of October 31, 2023 were as follows:
|
Information Technology |
23.3% |
|
|
Industrials |
22.0% |
|
|
Energy |
13.3% |
|
|
Materials |
12.9% |
|
|
Consumer
Discretionary |
11.7% |
|
|
Financials |
9.5% |
|
|
Real
Estate |
4.3% |
|
|
Communication Services |
1.8% |
|
|
Health
Care |
0.8% |
|
|
Cash &
Cash Equivalents |
0.4% |
|
The top ten investments which comprised 40.0% of the investment
portfolio at market as of October 31, 2023 were as follows:
|
NVIDIA Corporation |
7.1% |
|
|
Canadian
Pacific Kansas City Limited |
4.6% |
|
|
TFI
International Inc. |
4.4% |
|
|
Apple
Inc. |
4.0% |
|
|
Franco-Nevada Corporation |
4.0% |
|
|
WSP Global
Inc. |
3.5% |
|
|
Mastercard
Incorporated |
3.3% |
|
|
The
Descartes Systems Group Inc. |
3.3% |
|
|
West Fraser
Timber Co. Ltd. |
3.2% |
|
|
Enerplus
Corporation |
2.6% |
|
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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