Subject: MUTUAL FUNDS
Canadian General Investments: Investment Update - Unaudited
TORONTO, Canada, March 05, 2024 (GLOBE NEWSWIRE) -- Canadian General Investments, Limited (CGI) (TSX:CGI) (LSE: CGI) reports on an unaudited basis that its net asset value per share (NAV) at February 29, 2024 was $59.95, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 8.2% and 17.4%, respectively. These compare with the 2.4% and 9.2% 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 February 29, 2024, the leverage represented 14.0% of CGI's net assets, down from 15.1% at the end of 2023 and up from 13.8% at February 28, 2023.
The closing price for CGI's common shares at February 29, 2024 was $36.91, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 7.0% and 15.3%, respectively.
The sector weightings of CGI's investment portfolio at market as of February 29, 2024 were as follows:
| Industrials | 24.7% |
| Information Technology | 21.6% |
| Financials | 13.3% |
| Energy | 12.0% |
| Consumer Discretionary | 10.4% |
| Materials | 9.8% |
| Real Estate | 4.3% |
| Communication Services | 1.8% |
| Cash & Cash Equivalents | 1.4% |
| Consumer Staples | 0.7% |
The top ten investments which comprised 38.9% of the investment portfolio at market as of February 29, 2024 were as follows:
| NVIDIA Corporation | 7.3% |
| TFI International Inc. | 4.9% |
| Canadian Pacific Kansas City Limited | 4.6% |
| WSP Global Inc. | 3.5% |
| Apple Inc. | 3.3% |
| The Descartes Systems Group Inc. | 3.3% |
| Mastercard Incorporated | 3.2% |
| West Fraser Timber Co. Ltd. | 3.2% |
| Franco-Nevada Corporation | 2.9% |
| Amazon.com, Inc. | 2.7% |
FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail: [email protected]
website: www.canadiangeneralinvestments.ca
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