Canadian General Investments: Investment Update – Unaudited
Date
8/6/2024 12:31:05 PM
(MENAFN- GlobeNewsWire - Nasdaq) TORONTO, Canada, Aug. 06, 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 July 31, 2024 was $65.46 resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 18.6% and 14.7%, respectively. These compare with the 12.3% and 15.7% 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 July 31, 2024, the leverage represented 12.8% of CGI's net assets, down from 15.1% at the end of 2023 and 14.5% at July 31, 2023.
The closing price for CGI's common shares at July 31, 2024 was $40.50, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 18.2% and 14.3%, respectively.
The sector weightings of CGI's investment portfolio at market as of July 31, 2024 were as follows:
| Industrials | 22.5% |
| Information Technology | 21.6% |
| Financials | 13.2% |
| Energy | 13.0% |
| Materials | 12.2% |
| Consumer Discretionary | 10.0% |
| Real Estate | 4.2% |
| Cash & Cash Equivalents | 1.8% |
| Communication Services | 1.5% |
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The top ten investments which comprised 39.1% of the investment portfolio at market as of July 31, 2024 were as follows:
| NVIDIA Corporation | 6.8% |
| TFI International Inc. | 4.8% |
| Canadian Pacific Kansas City Limited | 4.3% |
| Apple Inc. | 3.8% |
| The Descartes Systems Group Inc. | 3.6% |
| WSP Global Inc. | 3.5% |
| Franco-Nevada Corporation | 3.3% |
| West Fraser Timber Co. Ltd. | 3.3% |
| Mastercard Incorporated | 3.0% |
| Amazon.com, Inc. | 2.7% |
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FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail: ...
website:
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