TORONTO, Canada, July 06, 2023 (GLOBE NEWSWIRE) -- 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 June 30, 2023 was $55.66, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 16.4% and 25.6%, respectively. These compare with the 5.7% and 10.4% 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 June 30, 2023, the leverage represented 15.1% of CGI’s net assets, up from 14.9% at the end of 2022 and down from 15.4% at June 30, 2022.
The closing price for CGI’s common shares at June 30, 2023 was $34.78, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 8.2% and 11.7%, respectively.
The sector weightings of CGI’s investment portfolio at market as of June 30, 2023 were as follows:
| Information Technology |
23.4 |
% |
| Industrials |
21.4 |
% |
| Materials |
16.4 |
% |
| Consumer Discretionary |
11.0 |
% |
| Energy |
10.2 |
% |
| Financials |
9.6 |
% |
| Real Estate |
4.7 |
% |
| Communication Services |
2.0 |
% |
| Health Care |
0.7 |
% |
| Cash & Cash Equivalents |
0.6 |
% |
|
|
|
The top ten investments which comprised 41.5% of the investment portfolio at market as of June 30, 2023 were as follows:
| NVIDIA Corporation |
7.0 |
% |
| Canadian Pacific Kansas City Limited |
4.6 |
% |
| West Fraser Timber Co. Ltd. |
4.3 |
% |
| First Quantum Minerals Ltd. |
4.2 |
% |
| Franco-Nevada Corporation |
4.1 |
% |
| Apple Inc. |
4.0 |
% |
| TFI International Inc. |
4.0 |
% |
| The Descartes Systems Group Inc. |
3.2 |
% |
| WSP Global Inc. |
3.1 |
% |
| 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
