Canadian General Investments: Investment Update - Unaudited
April 05 2022 - 4:08PM
Canadian General Investments, Limited (CGI) reports on an unaudited
basis that its net asset value per share (NAV) at March 31, 2022
was $57.99, resulting in year-to-date and 12-month NAV returns,
with dividends reinvested, of -5.1% and 12.8%, respectively. These
compare with the 3.8% and 20.2% 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 preference shares and bank borrowing, in an effort to
enhance returns to common shareholders. As at March 31, 2022, the
combined leverage afforded by both forms of leverage represented
14.5% of CGI’s net assets, up from 13.7% at the end of 2021 and
down from 16.1% at March 31, 2021.
The closing price for CGI’s common shares at March
31, 2022 was $42.32, resulting in year-to-date and 12-month share
price returns, with dividends reinvested, of -3.4% and 20.2%,
respectively.
The sector weightings of CGI’s investment
portfolio at market as of March 31, 2022 were as follows:
Materials |
20.6% |
Information Technology |
20.2% |
Industrials |
19.8% |
Financials |
10.9% |
Consumer Discretionary |
10.7% |
Energy |
8.4% |
Real Estate |
4.9% |
Communication Services |
2.3% |
Health Care |
1.2% |
Cash & Cash Equivalents |
1.0% |
The top ten investments which comprised 37.0% of
the investment portfolio at market as of March 31, 2022 were as
follows:
First Quantum Minerals Ltd. |
5.6% |
Canadian Pacific Railway Limited |
4.3% |
Franco-Nevada Corporation |
4.2% |
NVIDIA Corporation |
4.1% |
West Fraser Timber Co. Ltd. |
3.8% |
TFI International Inc. |
3.4% |
Apple Inc. |
3.3% |
Bank of Montreal |
2.9% |
WSP Global Inc. |
2.8% |
The Descartes Systems Group Inc. |
2.6% |
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
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