REG - Canadian General Inv - Portfolio Update

ShopifyAnnouncement

03/06/2021 19:10

RNS Number : 7998A
  
Canadian General Investments Ld
  
03 June 2021
  
 

FOR: CANADIAN GENERAL INVESTMENTS, LIMITED
TSX SYMBOLS: CGI, CGI.PR.D
LONDON STOCK EXCHANGE: CGI
 
June 3, 2021
 
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 May 31, 2021 was $53.78, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 8.4% and 54.1%, respectively.  These compare with the 14.4% and 33.8% 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 preference shares and bank borrowing, in an effort to enhance returns to common shareholders. As at May 31, 2021, the combined leverage afforded by both forms of leverage represented 15.6% of CGI's net assets, down from 16.8% at the end of 2020 and 23.6% at May 31, 2020.
 
The worldwide spread of novel coronavirus (COVID-19) and its impact on such factors as business operations, supply chains, travel, commodity prices and consumer confidence, and the associated impact on domestic and international equity markets and fixed income yields, is expected to continue to have a significant influence on the equity markets and could significantly impact the value of investments held by CGI. Morgan Meighen & Associates Limited, the manager of the Company, will maintain its consistent, steady, long-term approach of holding diversified, appropriate investments, while pursuing selective new opportunities.
 
The closing price for CGI's common shares at May 31, 2021 was $36.97, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 7.5% and 55.4%, respectively.
 
The sector weightings of CGI's investment portfolio at market as of May 31, 2021 were as follows:
 




Information Technology


24.4%




Industrials


22.3%




Materials


18.8%




Consumer Discretionary


11.5%




Financials


10.5%




Energy


4.6%




Real Estate


3.6%




Communication Services


2.1%




Cash & Cash Equivalents


1.7%




Health Care


0.8%




 
The top ten investments which comprised 36.8% of the investment portfolio at market as of May 31, 2021 were as follows:
 




Shopify Inc.


5.1%




Canadian Pacific Railway Limited


4.3%




First Quantum Minerals Ltd.


4.1%




Franco-Nevada Corporation


4.0%




NVIDIA Corporation


3.8%




West Fraser Timber Co. Ltd.


3.6%




Lightspeed POS Inc.


3.2%




TFI International Inc.


3.1%




Amazon.com, Inc.


2.9%




Bank of Montreal


2.7%




 
 
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
website: www.canadiangeneralinvestments.ca
 
 
                                                  
                                                                                                                     

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