UPDATE: CGI returned -20% in 2022, 18% in 2023, 27% in 2024, 18% in 2025, and 9% from January to mid-September 2026, so it is lagging behind the strong returns produced by most other trusts in the North America sector.

Canadian General Investments (CGI) was launched in 1930 making it one of the oldest surviving North American closed-ended funds. Its main listing is in Toronto but it has also been listed in London since 1995. CGI has produced a compound annual return of 12% over the last five decades and a double-digit annualised return in each of the last three decades. It has been managed by...