Canadian General Investments: Investment Update - Unaudited
Canadian General Investments, Limited - GlobeNewswire - Wed Oct 4, 2023
TORONTO, Canada, Oct. 04, 2023 (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 September 30, 2023 was $54.29, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 14.0% and 22.1%, respectively. These compare with the 3.4% and 9.5% 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 September 30, 2023, the leverage represented 15.4% of CGI’s net assets, up from 14.9% at the end of 2022 and down from 15.9% at September 30, 2022.
The closing price for CGI’s common shares at September 30, 2023 was $35.63, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 11.6% and 23.1%, respectively.
The sector weightings of CGI’s investment portfolio at market as of September 30, 2023 were as follows:
Information Technology
22.6
%
Industrials
22.3
%
Materials
15.7
%
Energy
11.9
%
Consumer Discretionary
11.2
%
Financials
9.4
%
Real Estate
4.4
%
Communication Services
1.7
%
Cash & Cash Equivalents
0.6
%
Health Care
0.5
%
The top ten investments which comprised 41.3% of the investment portfolio at market as of September 30, 2023 were as follows: