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Canadian General Investments

TSX: CGI

Market CapC$730m

Last Close C$35

Canadian General Investments’ objective is to provide better-than-average returns to shareholders by investing in a diversified portfolio of primarily Canadian equities. It aims to achieve this through prudent security selection, timely recognition of capital gains/losses and appropriate use of income-generating instruments. CGI’s performance is measured against the S&P/TSX Composite Index.

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Investment summary

Canadian General Investments (CGI) is managed by Greg Eckel at Morgan Meighen & Associates (MMA). He explains that in 2022, the stock market has been driven by macroeconomic events and investors have essentially ignored company fundamentals, which are the long-term drivers of share prices. The manager is sticking to his principles and continuing to focus on stock selection – a strategy that has led to a very commendable long-term record of outperformance. Eckel believes that stock market volatility is likely to persist as central banks need to further tighten monetary policy to combat higher inflation; he does not anticipate a repeat of the V-shaped market recovery seen during the COVID-19 pandemic. If the macroeconomic backdrop improves, the manager expects quality companies to outperform, so for now he is ‘weathering the storm’ and looking forward to sunnier times.

Content on Canadian General Investments
Canadian General Investments – Recent performance affected by top-down events
Investment companies | research Update | 15 November 2022
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Canadian General Investments – Very long-term record of outperformance
Investment companies | research Review | 15 November 2021
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Sector
Investment companies
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Share price graph
Price performance
%
1m
3m
12m
Actual 11.5 9.2 (18.2)
Relative* 5.9 3.2 (17.4)
52-week high/low C$44.2/C$28.9
*% relative to local index
Key management
Vanessa L. Morgan Chairman
Jonathan A. Morgan President and CEO

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