Canadian General Investments: Investment Update - Unaudited
February 03 2023 - 3:37PM
Canadian General Investments, Limited (CGI) (TSX: CGI,
CGI.PR.D) (LSE: CGI) reports on an unaudited basis that its net
asset value per share (NAV) at January 31, 2023 was $52.99,
resulting in year-to-date and 12-month NAV returns, with dividends
reinvested, of 9.8% and -5.9%, respectively. These compare with the
7.4% and 1.6% 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 January 31, 2023, the
combined leverage afforded by both forms of leverage represented
13.6% of CGI’s net assets, down from 14.9% at the end of 2022 and
14.6% at January 31, 2022.
The closing price for CGI’s common shares at
January 31, 2023 was $33.56, resulting in year-to-date and 12-month
share price returns, with dividends reinvested, of 2.9% and -15.6%,
respectively.
The sector weightings of CGI’s investment
portfolio at market as of January 31, 2023 were as follows:
Industrials |
21.1 |
% |
Information
Technology |
18.2 |
% |
Materials |
17.6 |
% |
Consumer
Discretionary |
12.1 |
% |
Financials |
11.2 |
% |
Energy |
11.1 |
% |
Real
Estate |
5.2 |
% |
Communication Services |
2.3 |
% |
Health
Care |
0.9 |
% |
Cash &
Cash Equivalents |
0.3 |
% |
The top ten investments which comprised 38.6% of
the investment portfolio at market as of January 31, 2023 were as
follows:
Canadian Pacific Railway Limited |
4.8 |
% |
West Fraser
Timber Co. Ltd. |
4.7 |
% |
Franco-Nevada Corporation |
4.5 |
% |
First
Quantum Minerals Ltd. |
4.4 |
% |
TFI
International Inc. |
4.1 |
% |
NVIDIA
Corporation |
3.5 |
% |
Apple
Inc. |
3.2 |
% |
WSP Global
Inc. |
3.2 |
% |
The
Descartes Systems Group Inc. |
3.1 |
% |
Mastercard
Incorporated |
3.1 |
% |
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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