Canadian General Investments: Investment Update - Unaudited

Tuesday, November 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 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