Canadian General Investments: Investment Update - Unaudited
July 06 2022 - 11:50AM
Canadian General Investments, Limited (CGI) reports on an unaudited
basis that its net asset value per share (NAV) at June 30, 2022 was
$45.12, resulting in year-to-date and 12-month NAV returns, with
dividends reinvested, of -25.8% and -19.2%, respectively. These
compare with the -9.9% and -3.9% 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 June 30, 2022, the
combined leverage afforded by both forms of leverage represented
15.4% of CGI’s net assets, up from 13.7% at the end of 2021 and
14.8% at June 30, 2021.
The closing price for CGI’s common shares at
June 30, 2022 was $32.03, resulting in year-to-date and 12-month
share price returns, with dividends reinvested, of -26.4% and
-15.2%, respectively.
The sector weightings of CGI’s investment
portfolio at market as of June 30, 2022 were as follows:
|
Industrials |
20.0 |
% |
|
|
Materials |
18.5 |
% |
|
|
Information
Technology |
17.5 |
% |
|
|
Consumer
Discretionary |
12.0 |
% |
|
|
Financials |
11.6 |
% |
|
|
Energy |
10.9 |
% |
|
|
Real
Estate |
5.3 |
% |
|
|
Communication Services |
2.6 |
% |
|
|
Health
Care |
1.3 |
% |
|
|
Cash &
Cash Equivalents |
0.3 |
% |
|
The top ten investments which comprised 36.9% of
the investment portfolio at market as of June 30, 2022 were as
follows:
|
Canadian Pacific Railway Limited |
4.8 |
% |
|
|
West Fraser
Timber Co. Ltd. |
4.6 |
% |
|
|
Franco-Nevada Corporation |
4.5 |
% |
|
|
First
Quantum Minerals Ltd. |
4.1 |
% |
|
|
Apple
Inc. |
3.4 |
% |
|
|
TFI
International Inc. |
3.3 |
% |
|
|
WSP Global
Inc. |
3.2 |
% |
|
|
Bank of
Montreal |
3.1 |
% |
|
|
NVIDIA
Corporation |
3.0 |
% |
|
|
The
Descartes Systems Group Inc. |
2.9 |
% |
|
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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