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Canadian General Investments: Investment Update - Unaudited

Canadian General Investments, Limited
Canadian General Investments, Limited

TORONTO, Canada, April 03, 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 March 31, 2024 was $62.80, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 13.4% and 22.2%, respectively. These compare with the 6.6% and 14.0% 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 March 31, 2024, the leverage represented 13.4% of CGI’s net assets, down from 15.1% at the end of 2023 and 16.0% at March 31, 2023.

The closing price for CGI’s common shares at March 31, 2024 was $37.69, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 9.3% and 17.3%, respectively.

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The sector weightings of CGI’s investment portfolio at market as of March 31, 2024 were as follows:

Industrials

24.7

%

Information Technology

21.0

%

Energy

13.5

%

Financials

13.0

%

Materials

10.6

%

Consumer Discretionary

9.6

%

Real Estate

4.2

%

Cash & Cash Equivalents

1.8

%

Communication Services

1.6

%


The top ten investments which comprised 39.0% of the investment portfolio at market as of March 31, 2024 were as follows:

NVIDIA Corporation

7.1

%

TFI International Inc.

5.1

%

Canadian Pacific Kansas City Limited

4.6

%

WSP Global Inc.

3.6

%

The Descartes Systems Group Inc.

3.3

%

West Fraser Timber Co. Ltd.

3.3

%

Mastercard Incorporated

3.2

%

Franco-Nevada Corporation

3.1

%

Apple Inc.

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