Net Asset Value(s)

RNS Number : 7596H

Canadian General Investments Ld

05 August 2021

 

FOR: CANADIAN GENERAL INVESTMENTS, LIMITED

TSX SYMBOLS: CGI, CGI.PR.D

LONDON STOCK EXCHANGE: CGI

August 5, 2021

Canadian General Investments: Investment Update - Unaudited

TORONTO, CANADA - Canadian General Investments, Limited (CGI) reports on an unaudited basis that its net asset value per share (NAV) at July 31, 2021 was $57.97, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 16.9% and 45.3%, respectively.  These compare with the 18.2% and 29.1% 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 preference shares and bank borrowing, in an effort to enhance returns to common shareholders. As at July 31, 2021, the combined leverage afforded by both forms of leverage represented 14.5% of CGI's net assets, down from 16.8% at the end of 2020 and 20.7% at July 31, 2020.

The worldwide spread of novel coronavirus (COVID-19) and its impact on such factors as business operations, supply chains, travel, commodity prices and consumer confidence, and the associated impact on domestic and international equity markets and fixed income yields, is expected to continue to have a significant influence on the equity markets and could significantly impact the value of investments held by CGI. Morgan Meighen & Associates Limited, the manager of the Company, will maintain its consistent, steady, long-term approach of holding diversified, appropriate investments, while pursuing selective new opportunities.

The closing price for CGI's common shares at July 31, 2021 was $38.78, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 12.7% and 46.6%, respectively.

The sector weightings of CGI's investment portfolio at market as of July 31, 2021 were as follows:

Information Technology	27.8%
Industrials	21.3%
Materials	16.7%
Consumer Discretionary	11.3%
Financials	10.2%
Energy	5.4%
Real Estate	3.8%
Communication Services	2.0%
Health Care	0.9%
Cash & Cash Equivalents	0.6%

 

The top ten investments which comprised 38.1% of the investment portfolio at market as of July 31, 2021 were as follows:

Shopify Inc.	6.1%
NVIDIA Corporation	4.4%
Franco-Nevada Corporation	4.2%
Canadian Pacific Railway Limited	3.8%
Lightspeed POS Inc.	3.6%
TFI International Inc.	3.5%
First Quantum Minerals Ltd.	3.5%
West Fraser Timber Co. Ltd.	3.3%
Amazon.com, Inc.	3.0%
Apple Inc.	2.7%

FOR FURTHER INFORMATION PLEASE CONTACT:

Canadian General Investments, Limited

Jonathan A. Morgan

President and CEO

Phone: [phone]

Fax: [phone]

e-mail: [e-mail]

website: www.canadiangeneralinvestments.ca

 

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