Cheers, RvR |
II and AJ BELL took some tax off but then later credited it back for isa and sipp accounts. I don’t remember filling any form. |
Ian Cowie's column is to comment on investment strategy,it would be a pretty rum deal if he wasn't able to purchase the stocks he recommends.In any event,he probably hasn't bought that many in comparison with ,say,an investment bank stacking the book before releasing a company buy recommendation to a grateful public.The article itself draws on some recent winners like Nvidia but this trust is primarily Canadian,75% of the portfolio is Canada orientated.The MMs today are employing the old trick of widening the spread to near 4% at times which somewhat reduces the attraction of an extraordinarily large discount to assets. |
Anyone know if you need to fill in an NR301 form (Canadian equivalent to W8BEN) to receive the full dividends on the London-listed CGI shares? |
To be fair this has been undervalued for a long time, considering its long term good performance, highly liquid and good quality portfolio, progressive dividend etc. I have spotted the value long before Ian Cowie. I think ST has tipped this in IC a while back as well. |
Cowie tip in Sunday Times yesterday.
Better than a cash bonus for him.
Pumping a small company he has just bought into in a large newspaper. |
great share price performance this morning. |
Thanks steeplejack, wondered what was happening this morning. |
Reality finally perhaps catching up with this share.
Major 6% jump at today's open.
Market finally realising that the massive and unjustified discount-to-NAV is out-of-kilter with the size of the fund, its pedigree , track-record and performance.
And just look at its top two holdings of Shopify (6.3%)and Nvidia (5.8%) which are booming.
ALL IMO. DYOR.
QP |
Written up by Ian Cowie in business section of Sunday Times 14 Nov with emphasis on discount to NAV. |
Surges to new ALL TIME HIGH.
Up more than 40% over 12 months
More activity/appetite on the London quoted listing in last few sessions.
The 35% DISCOUNT to NAV remains a gift for such excellent performance and pedigree.
ALL IMO. DYOR.
QP |
Just a wonderfully run trust. |
Just added more. |
Well it looks like more buys have been coming through lately and the share price is now pushing on.Still an amazing discount to NAV, just rediculous! |
Discount the widest I can remember it, at 37%, following a good recent rise in NAV, that hasn't been matched by share price appreciation. |
54% Increase over 12 months for CGI
versus
35% Increase over 12 months for SP500
I know which I'd prefer |
Still, performance of CGI.TO over 6 months only 11% compared to 17% on SP500. |
New ALL TIME HIGH for CanGen now through 40 bucks (C$).
Well done to the CanGen team on great performance.
ALL IMO. DYOR.
QP |
Shopify Inc of Canada has gone ballistic.
Several new consecutive and recent ALL TIME HIGHS and now through C$2,000.
Consider that 18 months ago, Shopify was C$500.
The largest holding of CanGen at c. 6.2% |
Mozy123, Not sure that Shopify (their largest holding), is in the S&P 500, would have to check. From their factsheets they bought into Shopify later in 2017 so the share price would have been around $100 then, but it's now $1096! So this could be having a major impact in your comparison of out performance over last 4 years.
Also, although the S&P 500 which could itself have doubled in value the last 5 years, this is still no where near the growth seen for Nvidia (key holding), which they bought in 2016 when the share price must have been around $100, and this now sits around $566. They bought Amazon in 2017 possibly around $1000 and this is now $3270. So these key top ten investments have way outperformed the S&P 500 index over the last 4 years or so. I have assuming they have gone on to hold these investments all way through up to current day, which I have not checked.
QuePassa, Liking these new investments also, they have also bought Ballard Power recently which looks great to me.
TT |
Interesting to see CGI putting some cash into exciting new investments like Xebec Adsoption, Goeasy, Wesport Fuel Systems which have high growth potential. |
Thanks for that, clickable link for the indolent:- |
Excellent Research Note on CGI released yesterday by Edison
hXXps://www.edisongroup.com/publication/building-on-strong-long-term-performance-record |
 From
In second [among ITs at a large discount] is the $760.4m Canadian General Investments trust, which was trading on a 32.3 per cent discount to NAV as of 7 May. Its discount has hovered around a 30 per cent average for the past five years, according to Shore Capital.
The trust – which is domiciled in Canada, has outperformed the IT North America sector over the past one, three and five years. Over the past 12 months, its 79.07 per cent total return is significantly ahead of the 49.38 per cent made by its average peer.
Analysts at Shore Capital explained why the discount remains high: “One of the key discount management tools used by most funds, a buy-back or tender offer, is not a possibility for Canadian General Investments given the fund’s investment corp status, which eliminates a layer of taxation, with capital gains only being taxed at the shareholder level.
“We believe that a steady/growing dividend should boost the attractiveness of the shares and could lead to some contraction in the discount.” |
Tony,
I compare this to ISHARES PLC CORE S&P 500 (USD) UCITS ETF (DIST) (IDUS) as I do with all my decisions on funds/trusts.
Over 1,3 and 5 years cgi is ahead, over 10 years if behind buy a huge amount. Did the strategy change or the managers? do you know? |
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