Canadian General Investments: Investment Update - Unaudited

Monday, February 5, 2024
 
NEWS RELEASE TRANSMITTED BY GLOBENEWSWIRE
FOR: CANADIAN GENERAL INVESTMENTS, LIMITED
TSX: CGI
LONDON STOCK EXCHANGE: CGI
 
Canadian General Investments: Investment Update - Unaudited
 
TORONTO, CANADA – Canadian General Investments, Limited (CGI) reports on an unaudited basis that its net asset value per share (NAV) at January 31, 2024 was $56.94, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 2.4% and 9.4%, respectively. These compare with the 0.6% and 4.6% 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 January 31, 2024, the leverage represented 14.7% of CGI’s net assets, down from 15.1% at the end of 2023 and up from 13.6% at January 31, 2023.
 
The closing price for CGI’s common shares at January 31, 2024 was $35.80, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 3.1% and 9.7%, respectively.
 
The sector weightings of CGI’s investment portfolio at market as of January 31, 2024 were as follows:
 

Industrials

24.1%

Information Technology

21.2%

Financials

13.5%

Energy

12.1%

Consumer Discretionary

10.7%

Materials

10.3%

Real Estate

4.6%

Communication Services

1.9%

Cash & Cash Equivalents

0.8%

Consumer Staples

0.8%

The top ten investments which comprised 37.7% of the investment portfolio at market as of January 31, 2024 were as follows:

NVIDIA Corporation

5.9%

Canadian Pacific Kansas City Limited

4.6%

TFI International Inc.

4.5%

Apple Inc.

3.5%

The Descartes Systems Group Inc.

3.5%

WSP Global Inc.

3.4%

West Fraser Timber Co. Ltd.

3.3%

Mastercard Incorporated

3.2%

Franco-Nevada Corporation

3.1%

Shopify Inc.

2.7%
 
FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729