TORONTO, Canada, Sept. 05, 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 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.com
website: www.canadiangeneralinvestments.ca
