RCS - Canadian General Inv - Edison issues review on Canadian General Inv.

CGIAnnouncement

18/05/2021 13:05

RNS Number : 8932Y
  
Canadian General Investments Ld
  
18 May 2021
  
 

 
London, UK, 18 May 2021
 
Edison issues review on Canadian General Investments (CGI)
Canadian General Investments (CGI) has been managed by Greg Eckel at Morgan Meighen & Associates (MMA) since 2009. He comments that his strategy of investing in high-quality companies for the long term has proved to be successful, and he aims to 'deliver more of the same'. The manager is 'very happy with the value CGI has generated for its shareholders'. Its diversified portfolio includes a number of themes including companies offering decarbonisation products and services, while the manager considers 'now may be the time' to consider investing in Canada given the broad range of later-cycle opportunities available and relatively attractive company valuations.
 
CGI's shares trade at a persistently wide discount (range of 26.5% to 38.0% over the last year), which may be due to the less than 50% free float or the relatively high level of gearing (although this has declined meaningfully in recent quarters due to strong NAV performance). However, CGI's discount has been narrower in the past, its shares traded close to NAV in 2006. Given the company's very strong performance track record one could argue that a higher valuation is warranted.

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All reports published by Edison are available to download free of charge from its website
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 Athens, Johannesburg and Sydney.
Edison is authorised and regulated by the Financial Conduct Authority.
Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. 
For more information, please contact Edison:
Mel Jenner +44 (0)20 3077 5720 investmenttrusts@edisongroup.com
Sarah Godfrey +44 (0)20 3681 2519 investmenttrusts@edisongroup.com
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