TORONTO, Canada, Jan. 04, 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 December 31, 2023 was $55.63, resulting in a one-year NAV return, with dividends reinvested, of 17.4%. This compares with the 11.8% return of the benchmark S&P/TSX Composite Index on a total return basis for the same period.
The Company employs a leveraging strategy, by way of bank borrowing, with the intent to enhance returns to common shareholders. As at December 31, 2023, the leverage represented 15.1% of CGI’s net assets, up from 14.9% at the end of 2022.
The closing price for CGI’s common shares at December 31, 2023 was $34.73, resulting in an annual share price return, with dividends reinvested, of 9.5%.
The sector weightings of CGI’s investment portfolio at market as of December 31, 2023 were as follows:
| | Industrials | 25.3% | |
| | Information Technology | 21.9% | |
| | Energy | 12.4% | |
| | Financials | 10.8% | |
| | Consumer Discretionary | 10.8% | |
| | Materials | 10.7% | |
| | Real Estate | 4.6% | |
| | Communication Services | 2.0% | |
| | Cash & Cash Equivalents | 0.8% | |
| | Health Care | 0.7% | |
The top ten investments which comprised 36.6% of the investment portfolio at market as of December 31, 2023 were as follows:
| | NVIDIA Corporation | 4.7% | |
| | TFI International Inc. | 4.7% | |
| | Canadian Pacific Kansas City Limited | 4.5% | |
| | Apple Inc. | 3.7% | |
| | West Fraser Timber Co. Ltd. | 3.5% | |
| | The Descartes Systems Group Inc. | 3.3% | |
| | WSP Global Inc. | 3.3% | |
| | Franco-Nevada Corporation | 3.2% | |
| | Mastercard Incorporated | 3.0% | |
| | Bank of Montreal | 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
© 2026 Canjex Publishing Ltd. All rights reserved.