Canadian General Investments: Investment Update - Unaudited
June 03 2022 - 3:44PM
Canadian General Investments, Limited (CGI) (TSX:CGI)
(TSX:CGI.PR.D) (LSE:CGI) reports on an unaudited basis that its net
asset value per share (NAV) at May 31, 2022 was $51.28, resulting
in year-to-date and 12-month NAV returns, with dividends
reinvested, of -15.7% and -3.1%, respectively. These compare with
the -1.3% and 7.9% 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 May 31, 2022, the
combined leverage afforded by both forms of leverage represented
16.4% of CGI’s net assets, up from 13.7% at the end of 2021 and
15.6% at May 31, 2021.
The closing price for CGI’s common shares at May
31, 2022 was $36.47, resulting in year-to-date and 12-month share
price returns, with dividends reinvested, of -16.2% and 0.9%,
respectively.
The sector weightings of CGI’s investment
portfolio at market as of May 31, 2022 were as follows:
Materials |
21.3 |
% |
Industrials |
18.1 |
% |
Information Technology |
16.5 |
% |
Consumer Discretionary |
11.2 |
% |
Financials |
11.2 |
% |
Energy |
11.0 |
% |
Real Estate |
4.9 |
% |
Communication Services |
2.4 |
% |
Cash & Cash Equivalents |
2.2 |
% |
Health Care |
1.2 |
% |
|
|
|
The top ten investments which comprised 35.8% of
the investment portfolio at market as of May 31, 2022 were as
follows:
First Quantum Minerals Ltd. |
5.3 |
% |
West Fraser Timber Co. Ltd. |
4.7 |
% |
Canadian Pacific Railway Limited |
4.1 |
% |
Franco-Nevada Corporation |
4.1 |
% |
NVIDIA Corporation |
3.2 |
% |
Apple Inc. |
3.1 |
% |
Bank of Montreal |
3.0 |
% |
TFI International Inc. |
2.9 |
% |
Mastercard Incorporated |
2.8 |
% |
WSP Global 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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