Canadian General Investments Limited is a closed-end equity fund incorporated in Canada.
It focuses on medium to long-term investments and claims to provide better than average returns to investors through appropriate income generating instruments, prudent security selection and timely recognition of capital gains or losses.
Canadian General Investments Limited has a diversified investment portfolio in different sectors, including:
• Information technology
• Consumer discretionary
• Communication services
• Real estate
The company, formerly known as Second Canadian General Investment Trust Limited, was established in 1930 by former Canadian PM Arthur Meighen.
In 1962, Third Canadian General Investment Trust and Canadian General Investments were listed on the Toronto Stock Exchange. In addition, Canadian General Investments was listed on the London Stock Exchange in 1995.
Morgan Meighen & Associates Limited is the company’s manager and portfolio adviser since 1956. It manages and undertakes investment decisions, maintains financial records, provides administrative services, calculates company’s net asset value, and assists in promotional activities.
Canadian General Investments Limited invests in a pool of assets for investors and stakeholders with common investment goals.
Close-ended funds issue a fixed number of shares that are traded on the stock exchange like others. For this, the brokerage charges a commission for purchase and sale, the company claims.
It adds that closed-end funds provide various advantages such as efficient portfolio management, leverage by trading discount, investment income, etc.
Canadian General Investments Limited allows additional accumulation of its stocks without any service fees or commissions through the share purchase plan and dividend reinvestment plan. It is however not available for US shareholders, the company claims.
The company says it is eligible for registered retirement plans, including RRIFs, RRSPs, LIFs and LIRAs. In addition, its common shares are eligible for SSASs, ISAs and SIPPs in the United Kingdom.
Canadian General Investments Limited claims that capital gains and dividends distributions also provide a source of investment income.
The company says that since closed-end funds consist of a fixed pool of assets, the managers can focus on efficient portfolio management and invest in less liquid securities and take long-term investment view.
The company aims to focus on clients’ capital and preserve its growth rate by investing in a diverse group of public companies. It claims to analyze different investment opportunities and evaluates a company’s performance thoroughly.