Canadian General Investments Ld Portfolio Update (5658U)
April 06 2021 - 10:39AM
UK Regulatory
TIDMCGI
RNS Number : 5658U
Canadian General Investments Ld
06 April 2021
FOR: CANADIAN GENERAL INVESTMENTS, LIMITED
TSX SYMBOLS: CGI, CGI.PR.D
LONDON STOCK EXCHANGE: CGI
April 6, 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 March 31, 2021 was $52.19, resulting in year-to-date and
12-month NAV returns, with dividends reinvested, of 4.8% and 94.3%,
respectively. These compare with the 8.1% and 44.2% 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 March 31, 2021, the combined leverage
afforded by both forms of leverage represented 16.1% of CGI's net
assets, down from 16.8% at the end of 2020 and 30.6% at March 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 March 31, 2021 was
$35.99, resulting in year-to-date and 12-month share price returns,
with dividends reinvested, of 4.0% and 89.9%, respectively.
The sector weightings of CGI's investment portfolio at market as
of March 31, 2021 were as follows:
Information Technology 26.6%
Industrials 22.7%
Materials 16.4%
Consumer Discretionary 11.8%
Financials 10.3%
Energy 4.7%
Real Estate 3.6%
Communication Services 2.0%
Health Care 1.3%
Cash & Cash Equivalents 0.6%
The top ten investments which comprised 36.7% of the investment
portfolio at market as of March 31, 2021 were as follows:
Shopify Inc. 6.9%
Canadian Pacific Railway Limited 4.4%
West Fraser Timber Co. Ltd. 3.6%
Franco-Nevada Corporation 3.6%
First Quantum Minerals Ltd. 3.4%
NVIDIA Corporation 3.3%
Amazon.com, Inc. 3.1%
Lightspeed POS Inc. 2.9%
Mastercard Incorporated 2.8%
Square, Inc. 2.7%
FOR FURTHER INFORMATION PLEASE CONTACT:
Canadian General Investments, Limited
Jonathan A. Morgan
President and CEO
Phone: (416) 366-2931
Fax: (416) 366-2729
e-mail: cgifund@mmainvestments.com
website: www.canadiangeneralinvestments.ca
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