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Canadian General Investments: Investment Update - Unaudited

/EIN News/ -- TORONTO, Canada, April 03, 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 March 31, 2024 was $62.80, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 13.4% and 22.2%, respectively. These compare with the 6.6% and 14.0% 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 March 31, 2024, the leverage represented 13.4% of CGI’s net assets, down from 15.1% at the end of 2023 and 16.0% at March 31, 2023.

The closing price for CGI’s common shares at March 31, 2024 was $37.69, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 9.3% and 17.3%, respectively.

The sector weightings of CGI’s investment portfolio at market as of March 31, 2024 were as follows:

Industrials 24.7 %
Information Technology 21.0 %
Energy 13.5 %
Financials 13.0 %
Materials 10.6 %
Consumer Discretionary 9.6 %
Real Estate 4.2 %
Cash & Cash Equivalents 1.8 %
Communication Services 1.6 %


The top ten investments which comprised 39.0% of the investment portfolio at market as of March 31, 2024 were as follows:

NVIDIA Corporation 7.1 %
TFI International Inc. 5.1 %
Canadian Pacific Kansas City Limited 4.6 %
WSP Global Inc. 3.6 %
The Descartes Systems Group Inc. 3.3 %
West Fraser Timber Co. Ltd. 3.3 %
Mastercard Incorporated 3.2 %
Franco-Nevada Corporation 3.1 %
Apple Inc. 3.0 %
Amazon.com, Inc. 2.7 %


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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