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Canadian General Investments: Investment Update - Unaudited


TORONTO, Canada, Feb. 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 January 31, 2024 was $56.94, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 2.4% and 9.4%, respectively. These compare with the 0.6% and 4.6% 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 January 31, 2024, the leverage represented 14.7% of CGI's net assets, down from 15.1% at the end of 2023 and up from 13.6% at January 31, 2023.

The closing price for CGI's common shares at January 31, 2024 was $35.80, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 3.1% and 9.7%, respectively.

The sector weightings of CGI's investment portfolio at market as of January 31, 2024 were as follows:

Industrials24.1%
Information Technology21.2%
Financials13.5%
Energy12.1%
Consumer Discretionary10.7%
Materials10.3%
Real Estate4.6%
Communication Services1.9%
Cash & Cash Equivalents0.8%
Consumer Staples0.8%


The top ten investments which comprised 37.7% of the investment portfolio at market as of January 31, 2024 were as follows:

NVIDIA Corporation5.9%
Canadian Pacific Kansas City Limited4.6%
TFI International Inc.4.5%
Apple Inc.3.5%
The Descartes Systems Group Inc.3.5%
WSP Global Inc.3.4%
West Fraser Timber Co. Ltd.3.3%
Mastercard Incorporated3.2%
Franco-Nevada Corporation3.1%
Shopify Inc.2.7%


FOR FURTHER INFORMATION PLEASE CONTACT:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail: cgifund@mmainvestments.com
website: www.canadiangeneralinvestments.ca

 



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