TORONTO, Canada, Oct. 04, 2023 (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 September 30, 2023 was $54.29, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 14.0% and 22.1%, respectively. These compare with the 3.4% and 9.5% 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, 2023, the leverage represented 15.4% of CGI’s net assets, up from 14.9% at the end of 2022 and down from 15.9% at September 30, 2022.
The closing price for CGI’s common shares at September 30, 2023 was $35.63, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 11.6% and 23.1%, respectively.
The sector weightings of CGI’s investment portfolio at market as of September 30, 2023 were as follows:
| Information Technology | 22.6 | % | ||
| Industrials | 22.3 | % | ||
| Materials | 15.7 | % | ||
| Energy | 11.9 | % | ||
| Consumer Discretionary | 11.2 | % | ||
| Financials | 9.4 | % | ||
| Real Estate | 4.4 | % | ||
| Communication Services | 1.7 | % | ||
| Cash & Cash Equivalents | 0.6 | % | ||
| Health Care | 0.5 | % |
The top ten investments which comprised 41.3% of the investment portfolio at market as of September 30, 2023 were as follows:
| NVIDIA Corporation | 6.9 | % | ||
| TFI International Inc. | 4.7 | % | ||
| Canadian Pacific Kansas City Limited | 4.4 | % | ||
| First Quantum Minerals Ltd. | 4.4 | % | ||
| Franco-Nevada Corporation | 4.0 | % | ||
| Apple Inc. | 3.7 | % | ||
| West Fraser Timber Co. Ltd. | 3.6 | % | ||
| WSP Global Inc. | 3.4 | % | ||
| Mastercard Incorporated | 3.2 | % | ||
| The Descartes Systems Group Inc. | 3.0 | % |
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
