Net Asset Value

India Capital Growth Fund Limited
06 September 2023
 

06 September 2023

India Capital Growth Fund Limited (the "Company" or "ICGF")

Net Asset Value statement at 31 August 2023

The Company announces its Net Asset Value ("NAV") per ordinary share as at 31 August 2023 was 165.38 pence.

In August, the NAV was up 5.81% in Sterling terms, whilst the BSE MidCap TR Index was up 3.39%, delivering an outperformance against the notional benchmark of 2.42%. In local currency terms, the NAV was up 5.14%.      

The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 31 August 2023 was 172.84 pence.

 

Portfolio analysis by sector as at 31 August 2023

 

 

 

Sector

No. of Companies

% of Portfolio

Financials

7

23.5%

Consumer Discretionary

8

18.3%

Materials

7

16.7%

Industrials

6

15.0%

Consumer Staples

3

9.8%

Information Technology

2

5.2%

Health Care

1

3.8%

Communication Services

1

2.6%

Real Estate

0

0.0%

Energy

0

0.0%

Utilities

0

0.0%

Total Equity Investment

35

94.9%

Cash & cash equivalents


5.1%

Total Portfolio

35

100.0%

 



 

Top 20 holdings as at 31 August 2023




Holding

Sector

% of Portfolio

IDFC Bank

Financials

6.0%

Federal Bank

Financials

5.9%

Ramkrishna Forgings

Materials

5.3%

Indusind Bank

Financials

4.7%

Skipper

Industrials

4.1%

Emami

Consumer Staples

3.9%

Neuland Laboratories

Health Care

3.8%

Dixon Technologies

Consumer Discretionary

3.4%

Jyothy Laboratories

Consumer Staples

3.4%

Persistent Systems

Information Technology

3.3%

Sona BLW Precision Forgings

Consumer Discretionary

3.3%

PI Industries

Materials

3.0%

Kajaria Ceramics

Industrials

2.9%

Welspun India

Consumer Discretionary

2.9%

Affle India

Communication Services

2.6%

VIP Industries

Consumer Discretionary

2.6%

JK Lakshmi Cement

Materials

2.6%

CCL Products India

Consumer Staples

2.5%

Balkrishna Industries

Consumer Discretionary

2.4%

Uniparts India

Industrials

2.3%

 

Portfolio analysis by market capitalisation size as at 31 August 2023

 

Market capitalisation size

No. of Companies

% of Portfolio

Small Cap (M/Cap < US$2bn)

17

45.4%

Mid Cap (US$2bn < M/Cap < US$8bn)

15

41.8%

Large Cap (M/Cap > US$8bn)

3

7.7%

Total Equity Investment

35

94.9%

Net Cash


5.1%

Total Portfolio

35

100.0%

 

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