TORONTO, Canada, Nov. 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 October 31, 2024 was $66.42 resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 20.9% and 33.5%, respectively. These compare with the 18.2% and 32.1% 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 October 31, 2024, the leverage represented 14.4% of CGI’s net assets, down from 15.1% at the end of 2023 and 16.6% at October 31, 2023.
The closing price for CGI’s common shares at October 31, 2024 was $39.75, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 16.8% and 25.3%, respectively.
The sector weightings of CGI’s investment portfolio at market as of October 31, 2024 were as follows:
| Information Technology |
24.0 |
% |
| Industrials |
22.7 |
% |
| Financials |
13.3 |
% |
| Materials |
12.4 |
% |
| Energy |
12.3 |
% |
| Consumer Discretionary |
9.6 |
% |
| Real Estate |
4.2 |
% |
| Communication Services |
1.0 |
% |
| Cash & Cash Equivalents |
0.5 |
% |
|
|
|
The top ten investments which comprised 39.3% of the investment portfolio at market as of October 31, 2024 were as follows:
| NVIDIA Corporation |
7.6 |
% |
| TFI International Inc. |
4.1 |
% |
| Canadian Pacific Kansas City Limited |
3.9 |
% |
| Apple Inc. |
3.8 |
% |
| WSP Global Inc. |
3.7 |
% |
| The Descartes Systems Group Inc. |
3.6 |
% |
| Franco-Nevada Corporation |
3.4 |
% |
| West Fraser Timber Co. Ltd. |
3.3 |
% |
| 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
