TORONTO, Canada, July 04, 2024 (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 June 30, 2024 was $62.50, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 13.3% and 14.2%, respectively. These compare with the 6.1% and 12.1% 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, 2024, the leverage represented 13.4% of CGI’s net assets, down from 15.1% at the end of 2023 and at June 30, 2023.
The closing price for CGI’s common shares at June 30, 2024 was $35.91, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 4.8% and 6.1%, respectively.
The sector weightings of CGI’s investment portfolio at market as of June 30, 2024 were as follows:
| Industrials |
22.2 |
% |
| Information Technology |
21.8 |
% |
| Financials |
12.9 |
% |
| Energy |
12.8 |
% |
| Materials |
11.5 |
% |
| Consumer Discretionary |
10.0 |
% |
| Real Estate |
3.8 |
% |
| Cash & Cash Equivalents |
3.5 |
% |
| Communication Services |
1.5 |
% |
|
|
|
The top ten investments which comprised 39.5% of the investment portfolio at market as of June 30, 2024 were as follows:
| NVIDIA Corporation |
7.4 |
% |
| TFI International Inc. |
4.7 |
% |
| Canadian Pacific Kansas City Limited |
4.2 |
% |
| Apple Inc. |
3.7 |
% |
| The Descartes Systems Group Inc. |
3.6 |
% |
| Cash |
3.5 |
% |
| WSP Global Inc. |
3.4 |
% |
| Franco-Nevada Corporation |
3.2 |
% |
| West Fraser Timber Co. Ltd. |
2.9 |
% |
| Mastercard Incorporated |
2.9 |
% |
|
|
|
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
