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Canadian General Investments: Investment Update – Unaudited

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TORONTO, Canada, Nov. 03, 2023 (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 October 31, 2023 was $50.60, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 6.3% for both periods. These compare with the 0.1% and 0.4% 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 bank borrowing, with the intent to enhance returns to common shareholders. As at October 31, 2023, the leverage represented 16.6% of CGI’s net assets, up from 14.9% at the end of 2022 and 14.8% at October 31, 2022.

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The closing price for CGI’s common shares at October 31, 2023 was $32.58, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 2.0% and 6.7%, respectively.

The sector weightings of CGI’s investment portfolio at market as of October 31, 2023 were as follows:

  Information Technology 23.3%  
  Industrials 22.0%  
  Energy 13.3%  
  Materials 12.9%  
  Consumer Discretionary 11.7%  
  Financials 9.5%  
  Real Estate 4.3%  
  Communication Services 1.8%  
  Health Care 0.8%  
  Cash & Cash Equivalents 0.4%  

The top ten investments which comprised 40.0% of the investment portfolio at market as of October 31, 2023 were as follows:

  NVIDIA Corporation 7.1%  
  Canadian Pacific Kansas City Limited 4.6%  
  TFI International Inc. 4.4%  
  Apple Inc. 4.0%  
  Franco-Nevada Corporation 4.0%  
  WSP Global Inc. 3.5%  
  Mastercard Incorporated 3.3%  
  The Descartes Systems Group Inc. 3.3%  
  West Fraser Timber Co. Ltd. 3.2%  
  Enerplus Corporation 2.6%  

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

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GlobeNewswire

2023-11-03 12:30:05

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