Portfolio Update

RNS Number : 5908U

Canadian General Investments Ld

03 December 2021

 

FOR: CANADIAN GENERAL INVESTMENTS, LIMITED

TSX SYMBOLS: CGI, CGI.PR.D

LONDON STOCK EXCHANGE: CGI

December 3, 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 November 30, 2021 was $60.40, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 22.6% and 29.4%, respectively.  These compare with the 21.4% and 23.5% 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 November 30, 2021, the combined leverage afforded by both forms of leverage represented 13.9% of CGI's net assets, down from 16.8% at the end of 2020 and 17.7% at November 30, 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 November 30, 2021 was $42.81, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 25.8% and 35.9%, respectively.

The sector weightings of CGI's investment portfolio at market as of November 30, 2021 were as follows:

Information Technology	28.6%
Industrials	20.2%
Materials	16.1%
Consumer Discretionary	11.4%
Financials	10.2%
Energy	5.8%
Real Estate	4.2%
Communication Services	1.9%
Health Care	1.3%
Cash & Cash Equivalents	0.3%

The top ten investments which comprised 39.5% of the investment portfolio at market as of November 30, 2021 were as follows:

NVIDIA Corporation	7.3%
Shopify Inc.	6.1%
West Fraser Timber Co. Ltd.	3.7%
Canadian Pacific Railway Limited	3.6%
Franco-Nevada Corporation	3.5%
First Quantum Minerals Ltd.	3.4%
TFI International Inc.	3.1%
Apple Inc.	3.1%
WSP Global Inc.	2.9%
The Descartes Systems Group Inc.	2.8%

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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