Edison issues review on Canadian General Inv

RNS Number : 5572D

Canadian General Investments Ld

27 April 2017

 

London, UK, 27 April 2017

Edison issues review on Canadian General Investments (CGI)

Canadian General Investments (CGI) is registered as a Canadian investment corporation, which confers favourable tax status; it is listed on both the Toronto and London stock exchanges. Given its broad exposure to primarily Canadian equities, the fund may be considered as a 'one-stop-shop' for investment in Canada. CGI's NAV total return has outperformed the S&P/TSX Composite index benchmark over one and five years. The manager's high ownership of CGI ensures that all shareholders' interests are aligned; however, this may be a factor in the size of the discount. Emphasis is moving more towards regular, quarterly rather than year-end special dividends; CGI's current dividend yield is 3.6%.

CGI's shares are currently trading at a discount of 29.2%; this compares to the averages of the last one, three, five and 10 years of 30.2%, 28.6%, 28.9% and 24.5% respectively. The discount may narrow if CGI's relative investment performance continues to improve or there is increased demand for Canadian equities. CGI is unable to use share repurchases to help narrow the discount as this would jeopardise its favourable tax status.  

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