TORONTO, Canada, Oct. 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 September 30, 2024 was $65.37 resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 18.9% and 22.4%, respectively. These compare with the 17.2% and 26.7% 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 September 30, 2024, the leverage represented 12.8% of CGI's net assets, down from 15.1% at the end of 2023 and 15.4% at September 30, 2023.
The closing price for CGI's common shares at September 30, 2024 was $39.95, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 17.4% and 15.2%, respectively.
The sector weightings of CGI's investment portfolio at market as of September 30, 2024 were as follows:
| Information Technology | 23.0% |
| Industrials | 22.2% |
| Financials | 13.6% |
| Materials | 13.1% |
| Energy | 11.9% |
| Consumer Discretionary | 10.0% |
| Real Estate | 4.4% |
| Communication Services | 1.5% |
| Cash & Cash Equivalents | 0.3% |
| NVIDIA Corporation | 7.0% |
| Canadian Pacific Kansas City Limited | 4.3% |
| TFI International Inc. | 4.2% |
| Apple Inc. | 3.9% |
| WSP Global Inc. | 3.7% |
| The Descartes Systems Group Inc. | 3.6% |
| West Fraser Timber Co. Ltd. | 3.6% |
| Franco-Nevada Corporation | 3.2% |
| Mastercard Incorporated | 3.1% |
| Dollarama Inc. | 2.8% |
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail: cgifund@mmainvestments.com
website: www.canadiangeneralinvestments.ca