Subject: MUTUAL FUNDS
Canadian General Investments: Investment Update - Unaudited
TORONTO, Canada, Aug. 03, 2023 (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 July 31, 2023 was $58.05, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 21.4% and 19.2%, respectively. These compare with the 8.4% and 8.2% 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 July 31, 2023, the leverage represented 14.5% of CGI's net assets, down from 14.9% at the end of 2022 and up from 14.0% at July 31, 2022.
The closing price for CGI's common shares at July 31, 2023 was $36.40, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 13.3% and 12.8%, respectively.
The sector weightings of CGI's investment portfolio at market as of July 31, 2023 were as follows:
| Information Technology | 22.7 | % |
| Industrials | 21.7 | % |
| Materials | 16.8 | % |
| Energy | 10.8 | % |
| Consumer Discretionary | 10.8 | % |
| Financials | 9.7 | % |
| Real Estate | 4.3 | % |
| Communication Services | 1.8 | % |
| Cash & Cash Equivalents | 0.7 | % |
| Health Care | 0.7 | % |
The top ten investments which comprised 41.7% of the investment portfolio at market as of July 31, 2023 were as follows:
| NVIDIA Corporation | 6.8 | % |
| First Quantum Minerals Ltd. | 5.1 | % |
| Canadian Pacific Kansas City Limited | 4.5 | % |
| TFI International Inc. | 4.3 | % |
| West Fraser Timber Co. Ltd. | 4.1 | % |
| Franco-Nevada Corporation | 4.0 | % |
| Apple Inc. | 3.9 | % |
| WSP Global Inc. | 3.1 | % |
| The Descartes Systems Group Inc. | 3.0 | % |
| Mastercard Incorporated | 2.9 | % |
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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