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Canadian General Investments: Investment Update - Unaudited

GlobeNewswire - Thu Jul 6, 2023

TORONTO, Canada, July 06, 2023 (GLOBE NEWSWIRE) -- Canadian General Investments, Limited (CGI) (TSX: CGI, CGI.PR.D) (LSE: CGI) reports on an unaudited basis that its net asset value per share (NAV) at June 30, 2023 was $55.66, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 16.4% and 25.6%, respectively. These compare with the 5.7% and 10.4% 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 June 30, 2023, the leverage represented 15.1% of CGI’s net assets, up from 14.9% at the end of 2022 and down from 15.4% at June 30, 2022.

The closing price for CGI’s common shares at June 30, 2023 was $34.78, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 8.2% and 11.7%, respectively.

The sector weightings of CGI’s investment portfolio at market as of June 30, 2023 were as follows:

Information Technology23.4%
Industrials21.4%
Materials16.4%
Consumer Discretionary11.0%
Energy10.2%
Financials9.6%
Real Estate4.7%
Communication Services2.0%
Health Care0.7%
Cash & Cash Equivalents0.6%
   

The top ten investments which comprised 41.5% of the investment portfolio at market as of June 30, 2023 were as follows:

NVIDIA Corporation7.0%
Canadian Pacific Kansas City Limited4.6%
West Fraser Timber Co. Ltd.4.3%
First Quantum Minerals Ltd.4.2%
Franco-Nevada Corporation4.1%
Apple Inc.4.0%
TFI International Inc.4.0%
The Descartes Systems Group Inc.3.2%
WSP Global Inc.3.1%
Mastercard Incorporated3.0%
   

FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian General Investments, Limited
Jonathan A. Morgan
President and CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail: cgifund@mmainvestments.com
website: www.canadiangeneralinvestments.ca


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