RCS - Canadian General Inv - Edison's update on Canadian General Investments

Canadian General InvestmentsAnnouncement

11/05/2023 12:30

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RNS Number : 1388Z  Canadian General Investments Ld  11 May 2023

London, UK, 11 May 2023

 

Edison issues update on Canadian General Investments (CGI)

Canadian General Investments has been managed by Greg Eckel at Morgan Meighen
& Associates since 2009. He has a very patient and consistent fundamental
investment approach, which has delivered significant outperformance over the
long term for CGI's shareholders. Last year proved to be a difficult period,
as essentially energy stocks were the 'only game in town' and the fund has an
underweight position in this sector. Also, technology stocks, which had served
CGI well over a multi-year period, fell out of favour with investors. However,
2023 has started well, the stock market has rotated and the fund's performance
has benefited from its sector positioning. The manager is confident that CGI's
current portfolio holdings are well-placed to get the fund back on track.
While he does seek new opportunities, Eckel is mindful never to neglect his
current holdings. He believes that very often, the best outcome is to do
nothing, which is reflected in a very low portfolio turnover of c 2% in 2022
and a c 6% five-year average.

 

Canada's base interest rate appears to have peaked and inflation has declined
considerably since mid-2022, helped by a lower oil price. However, economic
activity is slowing as the effects of earlier rate hikes are feeding through.
In an uncertain environment, where stock market volatility remains high, a
diverse portfolio of high-quality companies should be in a relatively strong
position to weather the storm.

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All reports published by Edison are available to download free of charge from
its website

www.edisongroup.com (http://www.edisongroup.com)

About Edison: Edison is a leading research and investor relations consultancy,
connecting listed companies to the widest pool of global investors. By
focusing on the volume and quality of investors reached - across institutions,
family offices, wealth managers and retail investors - Edison can create and
gauge intent to purchase, even in the darkest pools of capital, and then make
introductions via non-deal roadshows, events or virtual meetings.

Having been the first in-market 17 years ago, Edison now has more than 100
analysts covering every economic sector. Headquartered in London, Edison also
has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in
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(mailto:investmenttrusts@edisongroup.com)

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