Canadian General Investments Ld Edison issues review on Canadian Investments (CGI)
15 Noviembre 2022 - 12:00PM
RNS Non-Regulatory
TIDMCGI
Canadian General Investments Ld
15 November 2022
London, UK, 15 November 2022
Edison issues review on Canadian General Investments (CGI)
Canadian General Investments (CGI) is managed by Greg Eckel at
Morgan Meighen & Associates (MMA). He explains that in 2022,
the stock market has been driven by macroeconomic events and
investors have essentially ignored company fundamentals, which are
the long-term drivers of share prices. The manager is sticking to
his principles and continuing to focus on stock selection - a
strategy that has led to a very commendable long-term record of
outperformance. Eckel believes that stock market volatility is
likely to persist as central banks need to further tighten monetary
policy to combat higher inflation; he does not anticipate a repeat
of the V-shaped market recovery seen during the COVID-19 pandemic.
If the macroeconomic backdrop improves, the manager expects quality
companies to outperform, so for now he is 'weathering the storm'
and looking forward to sunnier times.
In an environment of heightened investor risk aversion, CGI's
33.7% discount is wider than the 29.9% to 31.7% range of average
discounts over the last one, three, five and 10 years. The company
pays regular quarterly dividends, and its annual distribution grows
steadily (+4.5% in respect of FY22). Based on its current share
price, CGI offers a 2.7% dividend yield.
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