Canadian General Investments: Investment Update - Unaudited
October 05 2022 - 10:58AM
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 September 30, 2022 was $45.25,
resulting in year-to-date and 12-month NAV returns, with dividends
reinvested, of -25.3% and -20.5%, respectively. These compare with
the -11.1% and -5.4% 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 September 30, 2022,
the combined leverage afforded by both forms of leverage
represented 15.9% of CGI’s net assets, up from 13.7% at the end of
2021 and 14.5% at September 30, 2021.
The closing price for CGI’s common shares at
September 30, 2022 was $29.75, resulting in year-to-date and
12-month share price returns, with dividends reinvested, of -31.2%
and -22.0%, respectively.
The sector weightings of CGI’s investment
portfolio at market as of September 30, 2022 were as follows:
|
Industrials |
21.1% |
|
|
Materials |
17.3% |
|
|
Information Technology |
16.8% |
|
|
Consumer Discretionary |
12.6% |
|
|
Financials |
11.6% |
|
|
Energy |
10.8% |
|
|
Real Estate |
5.1% |
|
|
Communication Services |
2.3% |
|
|
Cash & Cash Equivalents |
1.3% |
|
|
Health Care |
1.1% |
|
The top ten investments which comprised 37.7% of the investment
portfolio at market as of September 30, 2022 were as follows:
|
Canadian Pacific Railway Limited |
4.9% |
|
|
West Fraser Timber Co. Ltd. |
4.6% |
|
|
Franco-Nevada Corporation |
4.4% |
|
|
TFI International Inc. |
4.0% |
|
|
First Quantum Minerals Ltd. |
3.9% |
|
|
Apple Inc. |
3.6% |
|
|
WSP Global Inc. |
3.3% |
|
|
The Descartes Systems Group Inc. |
3.2% |
|
|
Bank of Montreal |
3.0% |
|
|
Mastercard Incorporated |
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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