Morgan Meighen & Associates
November 30, 2008 – Canadian General Investments, Limited (CGI) reports on an unaudited basis that its net asset value per share (NAV) at November 30, 2008 was $13.68, resulting in year-to-date and 12-month NAV returns, with dividends reinvested, of -56.7% and -55.3%, respectively. These compare with the -31.2% and -30.3% 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 November 30, 2008 was $9.45, resulting in year-to-date and 12-month market returns, with dividends reinvested, of -66.1% and -65.7%, respectively.
The sector weightings of CGI’s investment portfolio at market as of November 30, 2008 were as follows:
|
Energy |
18.4% |
|
Cash & Cash Equivalents |
16.2% |
|
Financials |
14.9% |
|
Industrials |
11.0% |
|
Consumer Discretionary |
10.1% |
|
Materials |
9.2% |
|
Telecommunication Services |
7.6% |
|
Consumer Staples |
4.6% |
| Utilities |
3.2% |
|
Information Technology |
2.1% |
The top ten investments, which comprised 40.2% of the investment portfolio at market, excluding non-convertible preferred shares, as of November 30, 2008 were as follows:
|
Canadian Cash |
8.8% |
|
Canadian Treasury Bills |
7.4% |
|
Rogers Communications Inc. |
4.1% |
|
BMTC Group Inc. |
3.4% |
|
TransCanada Corporation |
3.2% |
|
Enbridge Inc. |
3.2% |
|
Ritchie Bros. Auctioneers Incorporated |
3.0% |
|
Bombardier Inc. |
2.5% |
|
Shaw Communications Inc. |
2.4% |
|
Labrador Iron Ore Royalty Income Fund |
2.2% |
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