TORONTO, Canada, Aug. 06, 2024 (GLOBE NEWSWIRE) — Canadian General Investments, Limited (CGI) (TSX:CGI) (LSE: CGI) reports on an unaudited basis that its net asset value per share (NAV) at July 31, 2024 was $65.46 resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 18.6% and 14.7%, respectively. These compare with the 12.3% and 15.7% 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 July 31, 2024, the leverage represented 12.8% of CGI’s net assets, down from 15.1% at the end of 2023 and 14.5% at July 31, 2023.
The closing price for CGI’s common shares at July 31, 2024 was $40.50, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 18.2% and 14.3%, respectively.
The sector weightings of CGI’s investment portfolio at market as of July 31, 2024 were as follows:
|
Industrials |
22.5% |
|
Information Technology |
21.6% |
|
Financials |
13.2% |
|
Energy |
13.0% |
|
Materials |
12.2% |
|
Consumer Discretionary |
10.0% |
|
Real Estate |
4.2% |
|
Cash & Cash Equivalents |
1.8% |
|
Communication Services |
1.5% |
|
|
|
The top ten investments which comprised 39.1% of the investment portfolio at market as of July 31, 2024 were as follows:
|
NVIDIA Corporation |
6.8% |
|
TFI International Inc. |
4.8% |
|
Canadian Pacific Kansas City Limited |
4.3% |
|
Apple Inc. |
3.8% |
|
The Descartes Systems Group Inc. |
3.6% |
|
WSP Global Inc. |
3.5% |
|
Franco-Nevada Corporation |
3.3% |
|
West Fraser Timber Co. Ltd. |
3.3% |
|
Mastercard Incorporated |
3.0% |
|
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
