Canadian General Investments: Investment Update- Unaudited
May 04, 2016 at 03:17 pm EDT
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TORONTO, CANADA--(Marketwired - May 4, 2016) - Canadian General Investments, Limited (CGI) (TSX:CGI)(TSX:CGI.PR.C)(TSX:CGI.PR.D)(LSE:CGI) reports on an unaudited basis that its net asset value per share (NAV) at April 30, 2016 was $24.75, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 2.3% and -9.0%, respectively. These compare with the 8.4% and -5.4% returns of the benchmark S&P/TSX Composite Index on a total return basis for the same periods.
The closing price for CGI's common shares at April 30, 2016 was $17.70, resulting in year-to-date and 12-month share price returns, with dividends reinvested, of -4.7% and -9.0%, respectively.
The sector weightings of CGI's investment portfolio at market as of April 30, 2016 were as follows:
Financials
20.5%
Consumer Discretionary
19.3%
Materials
18.9%
Energy
15.9%
Industrials
12.7%
Information Technology
5.6%
Telecommunication Services
3.2%
Consumer Staples
2.0%
Utilities
1.1%
Cash & Cash Equivalents
1.0%
Health Care
0.3%
The top ten investments which comprised 33.4% of the investment portfolio at market as of April 30, 2016 were as follows:
Canadian General Investments, Limited closed-end equity fund. The Company is focused on medium- to long-term investments in primarily Canadian corporations. The Companyâs objective is to provide better than average returns to investors through prudent security selection, timely recognition of capital gains and appropriate income-generating instruments. The Company invests in sectors, including information technology, industrials, materials, consumer discretionary, energy, financials, real estate, communication services, health care and cash & cash equivalents. The Company participates in a securities lending program with its custodian, CIBC Mellon Trust Company. The Company's securities lending collateral includes Federal government debt securities, Provincial government debt securities and United States government debt securities. The Companyâs investment and administration activities are managed by Morgan Meighen & Associates Limited (the Manager).