Canadian General Investm... Share Discussion Threads

[steeplejack] 15/11/2021 08:24

Written up by Ian Cowie in business section of Sunday Times 14 Nov with emphasis on discount to NAV.

[quepassa] 08/11/2021 08:14

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

[tiltonboy] 02/11/2021 15:46

Just a wonderfully run trust.

[tonytyke2] 02/11/2021 13:35

Just added more.

[tonytyke2] 02/11/2021 13:34

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!

[tiltonboy] 26/10/2021 06:57

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.

[quepassa] 08/9/2021 10:31

54% Increase over 12 months for CGI

versus

35% Increase over 12 months for SP500


I know which I'd prefer

[deadly] 08/9/2021 09:23

Still, performance of CGI.TO over 6 months only 11% compared to 17% on SP500.

[quepassa] 02/9/2021 14:35

New ALL TIME HIGH for CanGen now through 40 bucks (C$).

Well done to the CanGen team on great performance.


ALL IMO. DYOR.
QP

[quepassa] 23/7/2021 15:26

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%

[tonytyke2] 18/5/2021 13:41

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

[quepassa] 18/5/2021 07:06

Interesting to see CGI putting some cash into exciting new investments like Xebec Adsoption, Goeasy, Wesport Fuel Systems which have high growth potential.

[cwa1] 18/5/2021 06:48

Thanks for that, clickable link for the indolent:-

[quepassa] 18/5/2021 06:28

Excellent Research Note on CGI released yesterday by Edison

hXXps://www.edisongroup.com/publication/building-on-strong-long-term-performance-record

[vulgaris] 14/5/2021 08:24

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.”

[mozy123] 05/5/2021 22:53

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?

[tonytyke2] 29/4/2021 13:56

Simon Thompson indicated insiders hold 52.5% and the board are unable to repurchase shares to narrow the discount to NAV. Apparently would contravene it's Canadian investment corporation tax status. Cracking long term performer though. NAV per share reported to have increased 260 fold since 1969.

[mozy123] 29/4/2021 10:20

agree tony, good value, but discount will never close, family controlled isnt it.

[tonytyke2] 28/4/2021 20:18

Fund still more than 32% discounted!

[tonytyke2] 28/4/2021 19:31

Cracking results from Shopify today up more than 11% (their largest holding here of 6.6%)

[riskvsreward] 05/4/2021 13:59

Thanks AL101. 15% seems to make sense compared to what I have received to my account.

[al101uk] 05/4/2021 13:46

25%, but the UK has a treaty that reduces that to 15% for UK based investors.

Guessing there's some form filling to be done for those that hold the Toronto listed shares.

[riskvsreward] 04/4/2021 09:41

is cgi dividend liable to withholding tax? If so what is the tax rate in an ISA account? Thanks in advance for any answers.

[tonytyke2] 20/3/2021 11:17

Yep, got mine paid on the 17th in sterling.