FOR: CANADIAN GENERAL INVESTMENTS, LIMITED
TSX SYMBOLS: CGI, CGI.PR.D
LONDON STOCK EXCHANGE: CGI
July 6, 2023
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 June 30, 2023 was $55.66, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 16.4% and 25.6%, respectively. These compare with the 5.7% and 10.4% 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 bank borrowing, with the intent to enhance returns to common shareholders. As at June 30, 2023, the leverage represented 15.1% of CGI's net assets, up from 14.9% at the end of 2022 and down from 15.4% at June 30, 2022.
The closing price for CGI's common shares at June 30, 2023 was $34.78, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 8.2% and 11.7%, respectively.
The sector weightings of CGI's investment portfolio at market as of June 30, 2023 were as follows:
| Information Technology | 23.4% |
| Industrials | 21.4% |
| Materials | 16.4% |
| Consumer Discretionary | 11.0% |
| Energy | 10.2% |
| Financials | 9.6% |
| Real Estate | 4.7% |
| Communication Services | 2.0% |
| Health Care | 0.7% |
| Cash & Cash Equivalents | 0.6% |
The top ten investments which comprised 41.5% of the investment portfolio at market as of June 30, 2023 were as follows:
| NVIDIA Corporation | 7.0% |
| Canadian Pacific Kansas City Limited | 4.6% |
| West Fraser Timber Co. Ltd. | 4.3% |
| First Quantum Minerals Ltd. | 4.2% |
| Franco-Nevada Corporation | 4.1% |
| Apple Inc. | 4.0% |
| TFI International Inc. | 4.0% |
| The Descartes Systems Group Inc. | 3.2% |
| WSP Global Inc. | 3.1% |
| Mastercard Incorporated | 3.0% |
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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