Canadian General Inv - Portfolio Update

Canadian General Investments

05/01/2023 17:13

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RNS Number : 8598L  Canadian General Investments Ld  05 January 2023

FOR: CANADIAN GENERAL INVESTMENTS, LIMITED

TSX SYMBOLS: CGI, CGI.PR.D

LONDON STOCK EXCHANGE: CGI

 

January 5, 2023

 

Canadian General Investments: Investment Update - Unaudited

 

TORONTO, CANADA - Canadian General Investments, Limited (CGI) reports on an
unaudited basis that its net asset value per share (NAV) at December 31, 2022
was $48.24, resulting in a one-year NAV return, with dividends reinvested, of
-20.0%.  This compares with the -5.8% 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 preference shares and
bank borrowing, in an effort to enhance returns to common shareholders. As at
December 31, 2022, the combined leverage afforded by both forms of leverage
represented 14.9% of CGI's net assets, up from 13.7% at the end of 2021.

 

The closing price for CGI's common shares at December 31, 2022 was $32.60,
resulting in an annual share price return, with dividends reinvested, of
-24.1%.

 

The sector weightings of CGI's investment portfolio at market as of December
31, 2022 were as follows:

 

 Industrials                  21.5%
 Information Technology       17.3%
 Materials                    17.2%
 Consumer Discretionary       12.2%
 Energy                       11.8%
 Financials                   11.1%
 Real Estate                  5.0%
 Communication Services       2.4%
 Health Care                  1.2%
 Cash & Cash Equivalents      0.3%

 

The top ten investments which comprised 38.2% of the investment portfolio at
market as of December 31, 2022 were as follows:

 

 Canadian Pacific Railway Limited  5.0%
 Franco-Nevada Corporation         4.6%
 First Quantum Minerals Ltd.       4.4%
 West Fraser Timber Co. Ltd.       4.3%
 TFI International Inc.            4.1%
 The Descartes Systems Group Inc.  3.3%
 WSP Global Inc.                   3.2%
 Mastercard Incorporated           3.2%
 Apple Inc.                        3.2%
 Bank of Montreal                  2.9%

 

FOR FURTHER INFORMATION PLEASE CONTACT:

Canadian General Investments, Limited

Jonathan A. Morgan

President and CEO

Phone: (416) 366-2931

Fax: (416) 366-2729

e-mail: cgifund@mmainvestments.com (mailto:cgifund@mmainvestments.com)

website: www.canadiangeneralinvestments.ca
(http://www.canadiangeneralinvestments.ca)

 

 

 

 

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