Investment Update from Canadian General Investments
Canadian General Investments, Limited (TSX: CGI) has released its quarterly performance update, showcasing a strong net asset value (NAV). As of August 31, 2024, the NAV per share was reported at $63.63. This remarkable figure indicates year-to-date and 12-month NAV returns of 15.8% and 12.4%, respectively. In comparison, the S&P/TSX Composite Index recorded returns of 13.7% and 18.8% for the same periods.
Leveraging Strategy for Improved Returns
The company employs a leveraging strategy designed to enhance returns for its common shareholders. By the end of August, leverage accounted for 13.2% of CGI’s net assets, a decline from 15.1% at the end of the previous year and down from 14.6% at the same time last year.
Analysis of Share Performance
As of August 31, 2024, the share price for Canadian General Investments was $38.05. This results in year-to-date and 12-month share price returns, including reinvested dividends, of 11.8% and 6.2%, respectively.
Sector Weightings in the Investment Portfolio
When looking at the sector weightings of the investment portfolio, we observe a well-diversified allocation as follows:
- Information Technology: 22.9%
- Industrials: 22.3%
- Financials: 13.5%
- Materials: 12.3%
- Energy: 12.3%
- Consumer Discretionary: 10.1%
- Real Estate: 4.4%
- Communication Services: 1.5%
- Cash & Cash Equivalents: 0.7%
Overview of Top Investments
The top ten investments make up 39.0% of the portfolio as of the same date:
- NVIDIA Corporation: 6.9%
- TFI International Inc.: 4.6%
- Canadian Pacific Kansas City Limited: 4.2%
- Apple Inc.: 3.9%
- The Descartes Systems Group Inc.: 3.6%
- WSP Global Inc.: 3.5%
- West Fraser Timber Co. Ltd.: 3.3%
- Franco-Nevada Corporation: 3.1%
- Mastercard Incorporated: 3.1%
- Dollarama Inc.: 2.8%
Contact Information
If you need more information or have any questions, please contact:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
Email: cgifund@mmainvestments.com
Frequently Asked Questions
What is the latest NAV for Canadian General Investments?
The latest NAV per share is $63.63, as reported for August 31, 2024.
How has the company's use of leverage changed?
The leverage decreased to 13.2% of net assets as of August 31, down from 15.1% at the end of 2023.
What were the share price returns for CGI?
CGI's share price returns are 11.8% year-to-date and 6.2% over the last 12 months.
Which sectors does CGI primarily invest in?
CGI has significant allocations in Information Technology and Industrials, among others.
Who can I contact for further information about CGI?
For inquiries, you can contact Jonathan A. Morgan, President & CEO, at (416) 366-2931.
