Canadian General Investments: Investment Update - Unaudited
May 04 2022 - 12:14PM
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 April 30, 2022 was $52.46, resulting in
year-to-date and 12-month NAV returns, with dividends reinvested,
of -14.1% and -2.6%, respectively. These compare with the -1.3% and
11.6% 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 April 30, 2022, the
combined leverage afforded by both forms of leverage represented
16.0% of CGI’s net assets, up from 13.7% at the end of 2021 and
15.3% at April 30, 2021.
The closing price for CGI’s common shares at April
30, 2022 was $39.00, resulting in year-to-date and 12-month share
price returns, with dividends reinvested, of -11.0% and 6.3%,
respectively.
The sector weightings of CGI’s investment
portfolio at market as of April 30, 2022 were as follows:
Materials |
21.4 |
% |
Industrials |
19.3 |
% |
Information
Technology |
18.4 |
% |
Consumer
Discretionary |
11.1 |
% |
Financials |
10.9 |
% |
Energy |
9.3 |
% |
Real
Estate |
4.8 |
% |
Communication Services |
2.5 |
% |
Cash &
Cash Equivalents |
1.2 |
% |
Health
Care |
1.1 |
% |
The top ten investments which comprised 36.3% of
the investment portfolio at market as of April 30, 2022 were as
follows:
First
Quantum Minerals Ltd. |
5.2 |
% |
West Fraser
Timber Co. Ltd. |
4.5 |
% |
Franco-Nevada Corporation |
4.4 |
% |
Canadian
Pacific Railway Limited |
4.3 |
% |
Apple
Inc. |
3.3 |
% |
NVIDIA
Corporation |
3.1 |
% |
Bank of
Montreal |
3.0 |
% |
Mastercard
Incorporated |
2.9 |
% |
TFI
International Inc. |
2.8 |
% |
WSP Global
Inc. |
2.8 |
% |
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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