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Adding to Positive Long-term Performance Record

Canadian General Investments, Limited (CGI) has delivered a very commendable long-term performance versus the Canadian market. Longstanding manager Greg Eckel at Morgan Meighen & Associates (MMA) is unphased by stock market volatility, following a fundamental, long-term approach to stock selection. He has taken advantage of the maximum 25% permitted allocation to US stocks to increase CGI’s returns, including a position in NVIDIA, which has been in the portfolio since 2016. The manager is unconstrained by index sector weightings and has had an underweight exposure to financial stocks for many years. However, the underweighting in energy stocks has been reduced as the major companies in the sector are increasing their cash returns to shareholders via dividends and share repurchases. There are also two new positions in uranium companies, where the industry supply/demand balance is looking more favourable.

7 May 2024

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