FOR: CANADIAN GENERAL INVESTMENTS, LIMITED
TSX: CGI
LONDON STOCK EXCHANGE: CGI
September 6, 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 August 31, 2023 was $57.57, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 20.9% and 21.6%, respectively. These compare with the 6.9% and 8.5% 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 August 31, 2023, the leverage represented 14.6% of CGI's net assets, down from 14.9% at the end of 2022 and up from 14.4% at August 31, 2022.
The closing price for CGI's common shares at August 31, 2023 was $36.80, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 15.3% and 18.0%, respectively.
The sector weightings of CGI's investment portfolio at market as of August 31, 2023 were as follows:
| Information Technology | 23.4% |
| Industrials | 22.0% |
| Materials | 16.0% |
| Energy | 10.9% |
| Consumer Discretionary | 10.8% |
| Financials | 9.3% |
| Real Estate | 4.4% |
| Communication Services | 1.8% |
| Cash & Cash Equivalents | 0.8% |
| Health Care | 0.6% |
The top ten investments which comprised 42.2% of the investment portfolio at market as of August 31, 2023 were as follows:
| NVIDIA Corporation | 7.4% |
| First Quantum Minerals Ltd. | 4.7% |
| TFI International Inc. | 4.7% |
| Canadian Pacific Kansas City Limited | 4.5% |
| Franco-Nevada Corporation | 4.1% |
| Apple Inc. | 3.8% |
| West Fraser Timber Co. Ltd. | 3.7% |
| WSP Global Inc. | 3.2% |
| Mastercard Incorporated | 3.2% |
| The Descartes Systems Group Inc. | 2.9% |
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
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