Canadian General Investments: Investment Update - Unaudited
Canadian General Investments, Limited - GlobeNewswire - Tue Mar 5, 1:05PM CST
TORONTO, Canada, March 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 February 29, 2024 was $59.95, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 8.2% and 17.4%, respectively. These compare with the 2.4% and 9.2% 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 February 29, 2024, the leverage represented 14.0% of CGI’s net assets, down from 15.1% at the end of 2023 and up from 13.8% at February 28, 2023.
The closing price for CGI’s common shares at February 29, 2024 was $36.91, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 7.0% and 15.3%, respectively.
The sector weightings of CGI’s investment portfolio at market as of February 29, 2024 were as follows:
Industrials
24.7%
Information Technology
21.6%
Financials
13.3%
Energy
12.0%
Consumer Discretionary
10.4%
Materials
9.8%
Real Estate
4.3%
Communication Services
1.8%
Cash & Cash Equivalents
1.4%
Consumer Staples
0.7%
The top ten investments which comprised 38.9% of the investment portfolio at market as of February 29, 2024 were as follows: