money-2724241

Canadian General Investments

LN: CGI

CA$504.8m market cap

CA$24.2 last close

CGI’s investment objective is to provide better-than-average returns to investors by investing in a diversified portfolio of Canadian corporations. It aims to achieve this through prudent security selection, timely recognition of capital gains/losses and the selection of appropriate income-generating investments.

Investment summary

Canadian General Investments (LSE:CGI and TSE:CGI) was launched in 1930, it is North America’s second-oldest closed-end fund. Since 1956, it has been managed by Morgan Meighen & Associates. Portfolio manager Greg Eckel invests with a medium- to long-term outlook in a broad selection of primarily Canadian equities, aiming to outperform the total return of the benchmark S&P/TSX Composite Index. CGI has a favourable tax status, but to maintain this, the company is unable to repurchase its shares to help manage the share price discount to net asset value. CGI has followed a levered strategy since 1998 and more than 50% of its shares are held by related parties.

In this webcast, Morgan Meighen’s executive vice president and chief operating officer Jonathan Morgan discusses the outcome of the recent general election, and the free trade agreement. He then focuses on the health of the Canadian economy, including the housing sector. Morgan also highlights CGI’s gearing, distribution policy, portfolio activity and investment performance.

Share price graph
Price performance
%
1m
3m
12m
Actual 3.2 0.3 8.5
Relative* (0.4) (3.8) (3.6)
52-week high/low C$26.2/C$19.7
*% relative to local index
Key management
Vanessa L. Morgan Chairman
Jonathan A. Morgan President and CEO

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