Source - RNS
RNS Number : 2263K
Canadian General Investments Ld
19 September 2016


London, UK, 19 September 2016

Edison issues research review on Canadian General Investments (CGI)


Canadian General Investments (CGI) is a closed-end investment fund listed on both the TSX and LSE; it is registered as a Canadian investment corporation. CGI aims to outperform the benchmark S&P/TSX index by investing in an actively managed portfolio of primarily Canadian stocks. Given its diversified exposure to the Canadian equity market, CGI could be viewed as a 'one-stop shop' for investment in the country. It has a progressive dividend policy; emphasis has shifted to quarterly rather than year-end special dividends. The 2016 prospective yield is 3.6%. High share ownership by related parties ensures that management's and shareholders' interests are closely aligned - although it may also be a factor in the wider than average discount.


CGI's current share price discount to net asset value of 31.3% is wider than the averages of the last one, three, five and 10 years. There is scope for the discount to narrow if CGI generates a sustained period of significant investment outperformance, or if there is a higher level of demand for Canadian equities. CGI has a progressive dividend policy, with a greater emphasis on regular quarterly rather than special final dividends. The prospective dividend yield for 2016 is 3.6%.  

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