Canadian General Investments: Investment Update - Unaudited
September 06 2022 - 2:58PM
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 August 31, 2022 was $48.21,
resulting in year-to-date and 12-month NAV returns, with dividends
reinvested, of -20.4% and -18.3%, respectively. These compare with
the -7.2% and -3.4% 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 August 31, 2022, the
combined leverage afforded by both forms of leverage represented
14.4% of CGI’s net assets, up from 13.7% at the end of 2021 and
14.0% at August 31, 2021.
The closing price for CGI’s common shares at
August 31, 2022 was $32.05, resulting in year-to-date and 12-month
share price returns, with dividends reinvested, of -25.8% and
-17.9%, respectively.
The sector weightings of CGI’s investment
portfolio at market as of August 31, 2022 were as follows:
|
Industrials |
21.3 |
% |
|
Materials |
18.0 |
% |
|
Information
Technology |
17.3 |
% |
|
Consumer
Discretionary |
12.2 |
% |
|
Financials |
11.3 |
% |
|
Energy |
11.0 |
% |
|
Real
Estate |
5.2 |
% |
|
Communication Services |
2.4 |
% |
|
Health
Care |
1.0 |
% |
|
Cash &
Cash Equivalents |
0.3 |
% |
The top ten investments which comprised 37.6% of
the investment portfolio at market as of August 31, 2022 were as
follows:
|
West Fraser Timber Co. Ltd. |
5.2 |
% |
|
Canadian
Pacific Railway Limited |
4.9 |
% |
|
TFI
International Inc. |
4.0 |
% |
|
Franco-Nevada Corporation |
4.0 |
% |
|
Apple
Inc. |
3.7 |
% |
|
First
Quantum Minerals Ltd. |
3.6 |
% |
|
The
Descartes Systems Group Inc. |
3.2 |
% |
|
WSP Global
Inc. |
3.2 |
% |
|
Bank of
Montreal |
2.9 |
% |
|
Mastercard
Incorporated |
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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