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CDN General Inv(CGI-T)
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Canadian General Investments: Investment Update - Unaudited

GlobeNewswire - Thu Jan 4, 10:54AM CST

TORONTO, Canada, Jan. 04, 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 December 31, 2023 was $55.63, resulting in a one-year NAV return, with dividends reinvested, of 17.4%. This compares with the 11.8% return of the benchmark S&P/TSX Composite Index on a total return basis for the same period.

The Company employs a leveraging strategy, by way of bank borrowing, with the intent to enhance returns to common shareholders. As at December 31, 2023, the leverage represented 15.1% of CGI’s net assets, up from 14.9% at the end of 2022.

The closing price for CGI’s common shares at December 31, 2023 was $34.73, resulting in an annual share price return, with dividends reinvested, of 9.5%.

The sector weightings of CGI’s investment portfolio at market as of December 31, 2023 were as follows:

 Industrials25.3% 
 Information Technology21.9% 
 Energy12.4% 
 Financials10.8% 
 Consumer Discretionary10.8% 
 Materials10.7% 
 Real Estate4.6% 
 Communication Services2.0% 
 Cash & Cash Equivalents0.8% 
 Health Care0.7% 

The top ten investments which comprised 36.6% of the investment portfolio at market as of December 31, 2023 were as follows:

 NVIDIA Corporation4.7% 
 TFI International Inc.4.7% 
 Canadian Pacific Kansas City Limited4.5% 
 Apple Inc.3.7% 
 West Fraser Timber Co. Ltd.3.5% 
 The Descartes Systems Group Inc.3.3% 
 WSP Global Inc.3.3% 
 Franco-Nevada Corporation3.2% 
 Mastercard Incorporated3.0% 
 Bank of Montreal2.7% 
    

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


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