FOR: CANADIAN GENERAL INVESTMENTS, LIMITED
TSX SYMBOLS: CGI, CGI.PR.D
LONDON STOCK EXCHANGE: CGI
April 5, 2023
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 March 31, 2023 was $52.31, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 8.9% and -8.1%, respectively. These compare with the 4.6% and -5.2% 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 preference shares and bank borrowing, in an effort to enhance returns to common shareholders. As at March 31, 2023, the combined leverage afforded by both forms of leverage represented 16.0% of CGI's net assets, up from 14.9% at the end of 2022 and 14.5% at March 31, 2022.
The closing price for CGI's common shares at March 31, 2023 was $33.01, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 2.0% and -19.8%, respectively.
The sector weightings of CGI's investment portfolio at market as of March 31, 2023 were as follows:
| Industrials | 21.1% |
| Information Technology | 20.7% |
| Materials | 16.5% |
| Consumer Discretionary | 11.6% |
| Energy | 10.5% |
| Financials | 9.9% |
| Real Estate | 5.0% |
| Communication Services | 2.2% |
| Cash & Cash Equivalents | 1.5% |
| Health Care | 1.0% |
The top ten investments which comprised 40.5% of the investment portfolio at market as of March 31, 2023 were as follows:
| NVIDIA Corporation | 5.0% |
| Canadian Pacific Railway Limited | 4.7% |
| Franco-Nevada Corporation | 4.5% |
| TFI International Inc. | 4.5% |
| First Quantum Minerals Ltd. | 4.4% |
| West Fraser Timber Co. Ltd. | 3.9% |
| Apple Inc. | 3.7% |
| The Descartes Systems Group Inc. | 3.5% |
| WSP Global Inc. | 3.3% |
| Mastercard Incorporated | 3.0% |
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
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
