FOR: CANADIAN GENERAL INVESTMENTS,
LIMITED
TSX: CGI
LONDON STOCK EXCHANGE: CGI
March 5, 2024
Canadian General Investments:
Investment Update - Unaudited
TORONTO, CANADA - Canadian General
Investments, Limited (CGI) reports on an unaudited basis that its
net asset value per share (NAV) at February 29, 2024 was $59.95,
resulting in year-to-date and 12-month NAV returns, with dividends
reinvested, of 8.2% and 17.4%, respectively. These compare with the
2.4% and 9.2% 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 February 29, 2024, the
leverage represented 14.0% of CGI's net assets, down from 15.1% at
the end of 2023 and up from 13.8% at February 28, 2023.
The closing price for CGI's common shares at February
29, 2024 was $36.91, resulting in year-to-date and 12-month share
price returns, with dividends reinvested, of 7.0% and 15.3%,
respectively.
The sector weightings of CGI's investment portfolio
at market as of February 29, 2024 were as follows:
Industrials
|
24.7%
|
Information Technology
|
21.6%
|
Financials
|
13.3%
|
Energy
|
12.0%
|
Consumer Discretionary
|
10.4%
|
Materials
|
9.8%
|
Real Estate
|
4.3%
|
Communication Services
|
1.8%
|
Cash & Cash
Equivalents
|
1.4%
|
Consumer Staples
|
0.7%
|
The top ten investments which comprised 38.9%
of the investment portfolio at market as of February 29, 2024 were
as follows:
NVIDIA Corporation
|
7.3%
|
TFI International Inc.
|
4.9%
|
Canadian Pacific Kansas City
Limited
|
4.6%
|
WSP Global Inc.
|
3.5%
|
Apple Inc.
|
3.3%
|
The Descartes Systems Group
Inc.
|
3.3%
|
Mastercard Incorporated
|
3.2%
|
West Fraser Timber Co.
Ltd.
|
3.2%
|
Franco-Nevada Corporation
|
2.9%
|
Amazon.com, Inc.
|
2.7%
|
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