Out of thousands of stocks that are currently traded on the market, it is difficult to identify those that will really generate strong returns. Hedge funds and institutional investors spend millions of dollars on analysts with MBAs and PhDs, who are industry experts and well connected to other industry and media insiders on top of that. Individual investors can piggyback […]
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Canadian General Investments: Investment Update - Unaudited Canadian General Investments, Limited Toronto, Ontario, CANADA
TORONTO, Canada, June 03, 2021 (GLOBE NEWSWIRE) Canadian General Investments, Limited (TSX: CGI) (TSX: CGI.PR.D) (LSE: CGI) (CGI) reports on an unaudited basis that its net asset value per share (NAV) at May 31, 2021 was $53.78, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of 8.4% and 54.1%, respectively. These compare with the 14.4% and 33.8% 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 May 31, 2021, the combined leverage afforded by both forms of leverage represented 15.6% of CGI’s net assets, down from 16.8% at the end of 2020 and 23.6% at May 31, 2020.