Canadian General Investments Ld Edison issues review on Canadian General Inv.
May 13 2022 - 2:01AM
RNS Non-Regulatory
TIDMCGI
Canadian General Investments Ld
13 May 2022
London, UK, 13 May 2022
Edison issues review on Canadian General Investments (CGI)
Canadian General Investments (CGI) has been managed by Greg
Eckel at Morgan Meighen & Associates (MMA) since 2009. Despite
elevated levels of stock market volatility, he is maintaining his
disciplined approach to stock selection, seeking high-quality
companies that can be held for the long term. The manager believes
the chance of a recession in Canada is 'slim to none in the near to
medium term' as the economy is in 'good shape'. However, if changes
to the portfolio are required, due to a sustained change in the
investment backdrop, they will be undertaken in a measured way. CGI
has a progressive dividend policy, paying regular quarterly
dividends; the total distribution in FY21 was 4.8% higher
year-on-year and the fund currently offers a 2.5% yield.
While CGI's shares trade at a wide discount, which may be due to
the high level of family ownership and the inability to repurchase
shares due to tax reasons, the current 25.6% discount is narrower
than the range of 29.7-31.3% average discounts over the last one,
three, five and 10 years. As a reminder, CGI has traded at a higher
valuation in the past; it traded close to NAV in 2006, which was a
during a commodity super-cycle.
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pool of global investors. By focusing on the volume and quality of
investors reached - across institutions, family offices, wealth
managers and retail investors - Edison can create and gauge intent
to purchase, even in the darkest pools of capital, and then make
introductions via non-deal roadshows, events or virtual
meetings.
Having been the first in-market 17 years ago, Edison now has
more than 100 analysts covering every economic sector.
Headquartered in London, Edison also has offices in New York,
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