FOR: CANADIAN GENERAL INVESTMENTS, LIMITED
TSX: CGI
LONDON STOCK EXCHANGE: CGI
October 4, 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 September 30, 2023 was $54.29, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 14.0% and 22.1%, respectively. These compare with the 3.4% and 9.5% 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 September 30, 2023, the leverage represented 15.4% of CGI's net assets, up from 14.9% at the end of 2022 and down from 15.9% at September 30, 2022.
The closing price for CGI's common shares at September 30, 2023 was $35.63, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 11.6% and 23.1%, respectively.
The sector weightings of CGI's investment portfolio at market as of September 30, 2023 were as follows:
| Information Technology | 22.6% |
| Industrials | 22.3% |
| Materials | 15.7% |
| Energy | 11.9% |
| Consumer Discretionary | 11.2% |
| Financials | 9.4% |
| Real Estate | 4.4% |
| Communication Services | 1.7% |
| Cash & Cash Equivalents | 0.6% |
| Health Care | 0.5% |
The top ten investments which comprised 41.3% of the investment portfolio at market as of September 30, 2023 were as follows:
| NVIDIA Corporation | 6.9% |
| TFI International Inc. | 4.7% |
| Canadian Pacific Kansas City Limited | 4.4% |
| First Quantum Minerals Ltd. | 4.4% |
| Franco-Nevada Corporation | 4.0% |
| Apple Inc. | 3.7% |
| West Fraser Timber Co. Ltd. | 3.6% |
| WSP Global Inc. | 3.4% |
| Mastercard Incorporated | 3.2% |
| The Descartes Systems Group Inc. | 3.0% |
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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