Canadian General Investments: Investment Update - Unaudited
April 05 2023 - 10:36AM
Canadian General Investments, Limited (CGI) (TSX: CGI, CGI.PR.D)
(LSE: CGI) reports on an unaudited basis that its net asset value
per share (NAV) at March 31, 2023 was $52.31, resulting in
year-to-date and 12-month NAV returns, with dividends reinvested,
of 8.9% and -8.1%, respectively. These compare with the 4.6% and
-5.2% 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 preference shares and bank borrowing, in an effort to
enhance returns to common shareholders. As at March 31, 2023, the
combined leverage afforded by both forms of leverage represented
16.0% of CGI’s net assets, up from 14.9% at the end of 2022 and
14.5% at March 31, 2022.
The closing price for CGI’s common shares at March
31, 2023 was $33.01, resulting in year-to-date and 12-month share
price returns, with dividends reinvested, of 2.0% and -19.8%,
respectively.
The sector weightings of CGI’s investment
portfolio at market as of March 31, 2023 were as follows:
|
Industrials |
21.1 |
% |
|
|
Information Technology |
20.7 |
% |
|
|
Materials |
16.5 |
% |
|
|
Consumer Discretionary |
11.6 |
% |
|
|
Energy |
10.5 |
% |
|
|
Financials |
9.9 |
% |
|
|
Real Estate |
5.0 |
% |
|
|
Communication Services |
2.2 |
% |
|
|
Cash & Cash Equivalents |
1.5 |
% |
|
|
Health Care |
1.0 |
% |
|
The top ten investments which comprised 40.5% of the investment
portfolio at market as of March 31, 2023 were as follows:
|
NVIDIA Corporation |
5.0 |
% |
|
|
Canadian Pacific Railway Limited |
4.7 |
% |
|
|
Franco-Nevada Corporation |
4.5 |
% |
|
|
TFI International Inc. |
4.5 |
% |
|
|
First Quantum Minerals Ltd. |
4.4 |
% |
|
|
West Fraser Timber Co. Ltd. |
3.9 |
% |
|
|
Apple Inc. |
3.7 |
% |
|
|
The Descartes Systems Group Inc. |
3.5 |
% |
|
|
WSP Global Inc. |
3.3 |
% |
|
|
Mastercard Incorporated |
3.0 |
% |
|
FOR FURTHER INFORMATION PLEASE CONTACT: Canadian
General Investments, Limited Jonathan A. Morgan President and CEO
Phone: (416) 366-2931 Fax: (416) 366-2729 e-mail:
cgifund@mmainvestments.com website:
www.canadiangeneralinvestments.ca
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