Canadian General Investments: Investment Update - Unaudited
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 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% |