TORONTO, Canada, July 06, 2023 (GLOBE NEWSWIRE) -- Canadian General Investments, Limited (CGI) (TSX: CGI, CGI.PR.D) (LSE: CGI) reports on an unaudited basis that its net asset value per share (NAV) at June 30, 2023 was $55.66, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 16.4% and 25.6%, respectively. These compare with the 5.7% and 10.4% 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 June 30, 2023, the leverage represented 15.1% of CGI’s net assets, up from 14.9% at the end of 2022 and down from 15.4% at June 30, 2022.
The closing price for CGI’s common shares at June 30, 2023 was $34.78, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 8.2% and 11.7%, respectively.
The sector weightings of CGI’s investment portfolio at market as of June 30, 2023 were as follows:
Information Technology | 23.4 | % |
Industrials | 21.4 | % |
Materials | 16.4 | % |
Consumer Discretionary | 11.0 | % |
Energy | 10.2 | % |
Financials | 9.6 | % |
Real Estate | 4.7 | % |
Communication Services | 2.0 | % |
Health Care | 0.7 | % |
Cash & Cash Equivalents | 0.6 | % |
The top ten investments which comprised 41.5% of the investment portfolio at market as of June 30, 2023 were as follows:
NVIDIA Corporation | 7.0 | % |
Canadian Pacific Kansas City Limited | 4.6 | % |
West Fraser Timber Co. Ltd. | 4.3 | % |
First Quantum Minerals Ltd. | 4.2 | % |
Franco-Nevada Corporation | 4.1 | % |
Apple Inc. | 4.0 | % |
TFI International Inc. | 4.0 | % |
The Descartes Systems Group Inc. | 3.2 | % |
WSP Global Inc. | 3.1 | % |
Mastercard Incorporated | 3.0 | % |
FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian General Investments, Limited
Jonathan A. Morgan
President and CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail: cgifund@mmainvestments.com
website: www.canadiangeneralinvestments.ca