Canadian General Investments: Investment Update - Unaudited
Canadian General Investments, Limited - GlobeNewswire - Mon Feb 5, 3:18PM CST
TORONTO, Canada, Feb. 05, 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 January 31, 2024 was $56.94, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 2.4% and 9.4%, respectively. These compare with the 0.6% and 4.6% 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 January 31, 2024, the leverage represented 14.7% of CGI’s net assets, down from 15.1% at the end of 2023 and up from 13.6% at January 31, 2023.
The closing price for CGI’s common shares at January 31, 2024 was $35.80, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 3.1% and 9.7%, respectively.
The sector weightings of CGI’s investment portfolio at market as of January 31, 2024 were as follows:
Industrials
24.1
%
Information Technology
21.2
%
Financials
13.5
%
Energy
12.1
%
Consumer Discretionary
10.7
%
Materials
10.3
%
Real Estate
4.6
%
Communication Services
1.9
%
Cash & Cash Equivalents
0.8
%
Consumer Staples
0.8
%
The top ten investments which comprised 37.7% of the investment portfolio at market as of January 31, 2024 were as follows: