TORONTO, Canada, Nov. 03, 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 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
