Canadian General Investments: Investment Update - Unaudited
September 05 2024 - 10:31AM
Canadian General Investments, Limited (CGI) (TSX:CGI) (LSE: CGI)
reports on an unaudited basis that its net asset value per share
(NAV) at August 31, 2024 was $63.63 resulting in year-to-date and
12-month NAV returns, with dividends reinvested, of 15.8% and
12.4%, respectively. These compare with the 13.7% and 18.8% 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 August 31, 2024, the leverage represented 13.2%
of CGI’s net assets, down from 15.1% at the end of 2023 and 14.6%
at August 31, 2023.
The closing price for CGI’s common shares at
August 31, 2024 was $38.05, resulting in year-to-date and 12-month
share price returns, with dividends reinvested, of 11.8% and 6.2%,
respectively.
The sector weightings of CGI’s investment
portfolio at market as of August 31, 2024 were as follows:
Information Technology |
22.9 |
% |
Industrials |
22.3 |
% |
Financials |
13.5 |
% |
Materials |
12.3 |
% |
Energy |
12.3 |
% |
Consumer Discretionary |
10.1 |
% |
Real Estate |
4.4 |
% |
Communication Services |
1.5 |
% |
Cash & Cash Equivalents |
0.7 |
% |
The top ten investments which comprised 39.0% of
the investment portfolio at market as of August 31, 2024 were as
follows:
NVIDIA Corporation |
6.9 |
% |
TFI International Inc. |
4.6 |
% |
Canadian Pacific Kansas City Limited |
4.2 |
% |
Apple Inc. |
3.9 |
% |
The Descartes Systems Group Inc. |
3.6 |
% |
WSP Global Inc. |
3.5 |
% |
West Fraser Timber Co. Ltd. |
3.3 |
% |
Franco-Nevada Corporation |
3.1 |
% |
Mastercard Incorporated |
3.1 |
% |
Dollarama Inc. |
2.8 |
% |
FOR FURTHER INFORMATION PLEASE CONTACT: Jonathan
A. Morgan President & CEO Phone: (416) 366-2931 Fax: (416)
366-2729 e-mail: cgifund@mmainvestments.comwebsite:
www.canadiangeneralinvestments.ca
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