TORONTO, Canada, Oct. 04, 2023 (GLOBE NEWSWIRE) -- Canadian General Investments, Limited (CGI) (TSX: CGI) (LSE: CGI) reports on an unaudited basis that its net asset value per share (NAV) at September 30, 2023 was $54.29, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 14.0% and 22.1%, respectively. These compare with the 3.4% and 9.5% 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 September 30, 2023, the leverage represented 15.4% of CGI’s net assets, up from 14.9% at the end of 2022 and down from 15.9% at September 30, 2022.
The closing price for CGI’s common shares at September 30, 2023 was $35.63, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 11.6% and 23.1%, respectively.
The sector weightings of CGI’s investment portfolio at market as of September 30, 2023 were as follows:
|
Information Technology |
22.6 |
% |
|
|
Industrials |
22.3 |
% |
|
|
Materials |
15.7 |
% |
|
|
Energy |
11.9 |
% |
|
|
Consumer Discretionary |
11.2 |
% |
|
|
Financials |
9.4 |
% |
|
|
Real Estate |
4.4 |
% |
|
|
Communication Services |
1.7 |
% |
|
|
Cash & Cash Equivalents |
0.6 |
% |
|
|
Health Care |
0.5 |
% |
|
The top ten investments which comprised 41.3% of the investment portfolio at market as of September 30, 2023 were as follows:
|
NVIDIA Corporation |
6.9 |
% |
|
|
TFI International Inc. |
4.7 |
% |
|
|
Canadian Pacific Kansas City Limited |
4.4 |
% |
|
|
First Quantum Minerals Ltd. |
4.4 |
% |
|
|
Franco-Nevada Corporation |
4.0 |
% |
|
|
Apple Inc. |
3.7 |
% |
|
|
West Fraser Timber Co. Ltd. |
3.6 |
% |
|
|
WSP Global Inc. |
3.4 |
% |
|
|
Mastercard Incorporated |
3.2 |
% |
|
|
The Descartes Systems Group Inc. |
3.0 |
% |
|
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
