TORONTO, Canada, Jan. 06, 2025 (GLOBE NEWSWIRE) — Canadian General Investments, Limited (CGI) (TSX:CGI) (LSE: CGI ) reports on an unaudited basis that its net asset value per share (NAV) in December 31, 2024 was $69.32, resulting in a one-year NAV return, with reinvested dividends, of 26.6 percent. This compares with the benchmark index’s return of 21.6% on a total return basis for the same period.
The company applies a strategy of financial leverage, through bank borrowing, with the intention of increasing returns to ordinary shareholders. As of December 31, 2024, leverage represented 13.8% of CGI’s net assets, down from 15.1% at year-end 2023.
The closing price of CGI common stock on December 31, 2023 was $40.48, resulting in an annualized share price return, with dividends reinvested, of 19.6%.
The sector weights of CGI’s investment portfolio on the market as of December 31, 2024 were as follows:
| Industries | 23.4 | % |
| Information technology | 23.0 | % |
| 13.4 | % | |
| energy | 12.3 | % |
| Materials | 11.2 | % |
| Consumer discretion | 9.7 | % |
| 4.2 | % | |
| Cash and cash equivalents | 2.1 | % |
| Communication services | 0.7 | % |
The top ten investments that made up 36.3% of the investment portfolio on the market as of December 31, 2024 were as follows:
| NVIDIA Corporation (NASDAQ:) | 4.5 | % |
| TFI International (NYSE:) Inc. | 4.1 | % |
| The Descartes Systems Group Inc (TSX:). | 4.0 | % |
| Apple Inc (NASDAQ:). | 3.8 | % |
| Canadian Pacific (NYSE:) Kansas City Limited | 3.6 | % |
| WSP Global Inc. | 3.6 | % |
| Mastercard Incorporated (NYSE:) | 3.3 | % |
| Shopify Inc (NYSE:). | 3.2 | % |
| West Fraser Timber Co. Ltd (TSX:). | 3.2 | % |
| Franco-Nevada Corporation | 3.0 | % |
FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
Jonathan A. Morgan
President & CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
Email: cgifund@mmainvestments.com
website: www.canadiangeneralinvestments.ca
Source: Canadian General Investments, Limited
