Subject: MUTUAL FUNDS
Canadian General Investments: Investment Update - Unaudited
TORONTO, Canada, May 03, 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 April 30, 2024 was $60.73, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 9.6% and 15.4%, respectively. These compare with the 4.7% and 8.7% 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 April 30, 2024, the leverage represented 13.8% of CGI's net assets, down from 15.1% at the end of 2023 and 15.7% at April 30, 2023.
The closing price for CGI's common shares at April 30, 2024 was $37.10, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 7.6% and 13.8%, respectively.
The sector weightings of CGI's investment portfolio at market as of April 30, 2024 were as follows:
| Industrials | 23.2% | |
| Information Technology | 21.0% | |
| Energy | 14.3% | |
| Financials | 13.2% | |
| Materials | 11.1% | |
| Consumer Discretionary | 9.9% | |
| Real Estate | 3.9% | |
| Cash & Cash Equivalents | 1.8% | |
| Communication Services | 1.6% | |
The top ten investments which comprised 37.8% of the investment portfolio at market as of April 30, 2024 were as follows:
| NVIDIA Corporation | 7.1% | |
| TFI International Inc. | 4.3% | |
| Canadian Pacific Kansas City Limited | 4.3% | |
| The Descartes Systems Group Inc. | 3.5% | |
| WSP Global Inc. | 3.4% | |
| Franco-Nevada Corporation | 3.3% | |
| Apple Inc. | 3.1% | |
| Mastercard Incorporated | 3.1% | |
| West Fraser Timber Co. Ltd. | 3.0% | |
| 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: cgifund@mmainvestments.com
website: www.canadiangeneralinvestments.ca
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