Canadian General Investments: Investment Update - Unaudited


TORONTO, Canada, July 04, 2024 (GLOBE NEWSWIRE) -- Canadian General Investments, Limited (CGI) (TSX: CGI) (LSE: CGI) reports on an unaudited basis that its net asset value per share (NAV) at June 30, 2024 was $62.50, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 13.3% and 14.2%, respectively. These compare with the 6.1% and 12.1% 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 bank borrowing, with the intent to enhance returns to common shareholders. As at June 30, 2024, the leverage represented 13.4% of CGI’s net assets, down from 15.1% at the end of 2023 and at June 30, 2023.

The closing price for CGI’s common shares at June 30, 2024 was $35.91, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 4.8% and 6.1%, respectively.

The sector weightings of CGI’s investment portfolio at market as of June 30, 2024 were as follows:

Industrials22.2%
Information Technology21.8%
Financials12.9%
Energy12.8%
Materials11.5%
Consumer Discretionary10.0%
Real Estate3.8%
Cash & Cash Equivalents3.5%
Communication Services1.5%
   

The top ten investments which comprised 39.5% of the investment portfolio at market as of June 30, 2024 were as follows:

NVIDIA Corporation7.4%
TFI International Inc.4.7%
Canadian Pacific Kansas City Limited4.2%
Apple Inc.3.7%
The Descartes Systems Group Inc.3.6%
Cash3.5%
WSP Global Inc.3.4%
Franco-Nevada Corporation3.2%
West Fraser Timber Co. Ltd.2.9%
Mastercard Incorporated2.9%
   

FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail: cgifund@mmainvestments.com
website: www.canadiangeneralinvestments.ca