TORONTO, Canada, July 4, 2024 (GLOBE NEWSWIRE) — Canadian General Investments Limited (CGI) (TSX: CGI) (LSE: CGI) announced today that its net asset value (NAV) per share as of June 30, 2024 was $62.50, resulting in year-to-date and trailing 12-month NAV returns, including dividends reinvested, of 13.3% and 14.2%, respectively. This compares to the benchmark S&P/TSX Composite Index returns of 6.1% and 12.1% on a total return basis for the same periods.
The Company is adopting a leveraged strategy, through borrowing from banks, with the aim of enhancing returns to common shareholders. As of June 30, 2024, leverage represented 13.4% of CGI’s net assets, down from 15.1% at year-end 2023 and June 30, 2023.
The closing price of CGI common stock on June 30, 2024 was $35.91, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 4.8% and 6.1%, respectively.
The sector weights of CGI’s market investment portfolio as of June 30, 2024 were as follows:
| Industries | 22.2 | % |
| information technology | 21.8 | % |
| Finance | 12.9 | % |
| energy | 12.8 | % |
| Material | 11.5 | % |
| Consumer Dictionary | 10.0 | % |
| Real estate | 3.8 | % |
| Cash and cash equivalents | 3.5 | % |
| Telecommunications Services | 1.5 | % |
The top ten investments, which accounted for 39.5% of the market’s investment portfolio as of June 30, 2024, were as follows:
| NVIDIA Corporation (NASDAQ:) | 7.4 | % |
| TFI International Inc. (NYSE:) Limited | 4.7 | % |
| Canadian Pacific Kansas City, Inc. (NYSE:) | 4.2 | % |
| Apple Inc. (NASDAQ:). | 3.7 | % |
| Descartes Systems Group (NASDAQ:) | 3.6 | % |
| monetary | 3.5 | % |
| WSP International Company | 3.4 | % |
| Franco Nevada Company | 3.2 | % |
| West Fraser Lumber Company (NYSE:) Ltd. | 2.9 | % |
| MasterCard Incorporated (NYSE:) | 2.9 | % |
For more information, please contact:
Jonathan A. Morgan
President and CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
Email: cgifund@mmainvestments.com
Website: www.canadiangeneralinvestments.ca
Source: Public Investment Corporation of Canada Ltd.