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Canadian General Investments: Investment Update – Unaudited
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Canadian General Investments: Investment Update – Unaudited

TORONTO, Canada, Sept. 06, 2023 (GLOBE NEWSWIRE) — Canadian General Investments, Limited (CGI) reports on an unaudited basis that its net asset value per share (NAV) at August 31, 2023 was $57.57, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 20.9% and 21.6%, respectively. These compare with the 6.9% and 8.5% 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 bank borrowing, with the intent to enhance returns to common shareholders. As at August 31, 2023, the leverage represented 14.6% of CGI’s net assets, down from 14.9% at the end of 2022 and up from 14.4% at August 31, 2022.

The closing price for CGI’s common shares at August 31, 2023 was $36.80, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of 15.3% and 18.0%, respectively.

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

  Information Technology 23.4 %
  Industrials 22.0 %
  Materials 16.0 %
  Energy 10.9 %
  Consumer Discretionary 10.8 %
  Financials 9.3 %
  Real Estate 4.4 %
  Communication Services 1.8 %
  Cash & Cash Equivalents 0.8 %
  Health Care 0.6 %

The top ten investments which comprised 42.2% of the investment portfolio at market as of August 31, 2023 were as follows:

  NVIDIA Corporation 7.4 %
  First Quantum Minerals Ltd. 4.7 %
  TFI International Inc. 4.7 %
  Canadian Pacific Kansas City Limited 4.5 %
  Franco-Nevada Corporation 4.1 %
  Apple Inc. 3.8 %
  West Fraser Timber Co. Ltd. 3.7 %
  WSP Global Inc. 3.2 %
  Mastercard Incorporated 3.2 %
  The Descartes Systems Group Inc. 2.9 %

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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