Canadian General Investments: Investment Update - Unaudited
Thursday, October 3, 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 September 30, 2024 was $65.37 resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 18.9% and 22.4%, respectively. These compare with the 17.2% and 26.7% 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 September 30, 2024, the leverage represented 12.8% of CGI’s net assets, down from 15.1% at the end of 2023 and 15.4% at September 30, 2023.
The closing price for CGI’s common shares at September 30, 2024 was $39.95, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 17.4% and 15.2%, respectively.
The sector weightings of CGI’s investment portfolio at market as of September 30, 2024 were as follows:
|
Information Technology |
23.0% |
|
Industrials |
22.2% |
|
Financials |
13.6% |
|
Materials |
13.1% |
|
Energy |
11.9% |
|
Consumer Discretionary |
10.0% |
|
Real Estate |
4.4% |
|
Communication Services |
1.5% |
|
Cash & Cash Equivalents |
0.3% |
The top ten investments which comprised 39.4% of the investment portfolio at market as of September 30, 2024 were as follows:
|
NVIDIA Corporation |
7.0% |
|
Canadian Pacific Kansas City Limited |
4.3% |
|
TFI International Inc. |
4.2% |
|
Apple Inc. |
3.9% |
|
WSP Global Inc. |
3.7% |
|
The Descartes Systems Group Inc. |
3.6% |
|
West Fraser Timber Co. Ltd. |
3.6% |
|
Franco-Nevada Corporation |
3.2% |
|
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