Investment Performance Overview
Canadian General Investments, Limited (CGI) recently announced its unaudited financial status. As of September 30, 2024, its net asset value per share (NAV) stood at $65.37. This figure indicates a robust year-to-date NAV return of 18.9% and an impressive 12-month return of 22.4%. When compared to the performance of the S&P/TSX Composite Index, which delivered returns of 17.2% year-to-date and 26.7% over the last year, CGI is making notable strides in investment performance paired with dividends reinvested.
Leverage and Strategic Approaches
CGI employs a leveraging strategy utilizing bank borrowing to amplify returns for its common shareholders. As of the end of September 2024, the leverage ratio accounted for 12.8% of CGI’s net assets, showcasing a decrease from the previous values of 15.1% at the close of 2023 and 15.4% a year prior. This strategic move signals cautious optimism and a focused approach on maintaining balanced risk and reward.
Share Price Trends
The closing price of CGI's common shares on September 30, 2024, was recorded at $39.95. This price reflects year-to-date share price returns of 17.4% and a more modest 15.2% over the past 12 months, with dividends reinvested. This consistency in resilient share performance demonstrates CGI’s ability to navigate fluctuating market conditions.
Investment Portfolio Composition
As of September 30, 2024, the sector investments within CGI's portfolio are varied, illustrating a well-rounded approach to asset allocation. Here’s a snapshot of the sector weightings:
Sector Allocations
The investment portfolio is distributed across various sectors which include:
- Information Technology: 23.0%
- Industrials: 22.2%
- Financials: 13.6%
- Materials: 13.1%
- Energy: 11.9%
- Consumer Discretionary: 10.0%
- Real Estate: 4.4%
- Communication Services: 1.5%
- Cash & Cash Equivalents: 0.3%
This diversified allocation not only aims to spread risk but also seeks potential growth across various high-performing sectors.
Top Investments Snapshot
The top ten investments constituted 39.4% of CGI's market portfolio, demonstrating strategic positions in key companies. The leading investments and their respective portfolio percentages are:
Leading Investment Holdings
- NVIDIA Corporation: 7.0%
- Canadian Pacific Kansas City Limited: 4.3%
- TFI International Inc.: 4.2%
- Apple Inc.: 3.9%
- WSP Global Inc.: 3.7%
- The Descartes Systems Group Inc.: 3.6%
- West Fraser Timber Co. Ltd.: 3.6%
- Franco-Nevada Corporation: 3.2%
- Mastercard Incorporated: 3.1%
- Dollarama Inc.: 2.8%
This concentration in high-profile companies illustrates CGI's commitment to quality investments amidst the shifting economic landscape.
Contact Information
For those seeking additional insights or professional inquiries, please reach out to:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
Email: cgifund@mmainvestments.com
Website: www.canadiangeneralinvestments.ca
Frequently Asked Questions
What is the current net asset value per share of CGI?
The net asset value per share as of September 30, 2024, is $65.37.
How does CGI's NAV performance compare to the S&P/TSX Index?
CGI reported a year-to-date NAV return of 18.9%, while the S&P/TSX Composite Index showed a return of 17.2% for the same period.
What leveraging strategy does CGI implement?
CGI uses bank borrowing as a leveraging strategy to enhance returns for its common shareholders.
What are the sector weightings of CGI's investment portfolio?
CGI's sector weightings include Information Technology at 23.0%, Industrials at 22.2%, among other diversified allocations.
Who can I contact for more information about CGI?
Jonathan A. Morgan, the President & CEO, is available for inquiries at (416) 366-2931 or via email at cgifund@mmainvestments.com.
