05 May 2022
India Capital Growth Fund Limited (the "Company" or "ICGF")
Net Asset Value statement at 29 April 2022
The Company announces its Net Asset Value ("NAV") per ordinary share as at 29 April 2022 was 129.44 pence.
In April, the NAV was up 4.87% in Sterling terms, whilst the BSE MidCap TR Index was up 5.41%, delivering an underperformance against the notional benchmark of 0.54%. In local currency terms, the NAV was up 0.83%.
The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 29 April 2022 was 132.52 pence.
Portfolio analysis by sector as at 29 April 2022 |
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Sector |
No. of Companies |
% of Portfolio |
Financials |
5 |
21.2% |
Materials |
7 |
19.3% |
Consumer Discretionary |
7 |
15.9% |
Consumer Staples |
3 |
10.3% |
Industrials |
4 |
8.9% |
Information Technology |
2 |
8.0% |
Health Care |
2 |
5.0% |
Communication Services |
1 |
3.7% |
Energy |
1 |
2.0% |
Utilities |
0 |
0.0% |
Real Estate |
0 |
0.0% |
Total Equity Investment |
32 |
94.4% |
Net Cash |
|
5.6% |
Total Portfolio |
32 |
100.0% |
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Top 20 holdings as at 29 April 2022 |
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Holding |
Sector |
% of Portfolio |
Federal Bank |
Financials |
6.3% |
Ramkrishna Forgings |
Materials |
4.8% |
Emami |
Consumer Staples |
4.8% |
Indusind Bank |
Financials |
4.8% |
Persistent Systems |
Information Technology |
4.5% |
IDFC Bank |
Financials |
4.0% |
Affle India |
Communication Services |
3.7% |
City Union Bank |
Financials |
3.7% |
Tech Mahindra |
Information Technology |
3.5% |
PI Industries |
Materials |
3.3% |
Jyothy Laboratories |
Consumer Staples |
3.1% |
Balkrishna Industries |
Consumer Discretionary |
3.1% |
Sagar Cements |
Materials |
3.1% |
Aarti Industries |
Materials |
3.0% |
Kajaria Ceramics |
Industrials |
2.9% |
Neuland Laboratories |
Health Care |
2.8% |
Bajaj Electricals |
Consumer Discretionary |
2.8% |
Welspun India |
Consumer Discretionary |
2.8% |
Dixon Technologies |
Consumer Discretionary |
2.6% |
Multi Commodity Exchange |
Financials |
2.5% |
Portfolio analysis by market capitalisation size as at 29 April 2022 |
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Market capitalisation size |
No. of Companies |
% of Portfolio |
Small Cap (M/Cap < US$2bn) |
15 |
39.6% |
Mid Cap (US$2bn < M/Cap < US$8bn) |
14 |
44.4% |
Large Cap (M/Cap > US$8bn) |
3 |
10.4% |
Total Equity Investment |
32 |
94.4% |
Net Cash |
|
5.6% |
Total Portfolio |
32 |
100.0% |