Net Asset Value
05 January 2024
India Capital Growth Fund Limited (the "Company" or "ICGF")
Net Asset Value statement at 29 December 2023
The Company announces its Net Asset Value ("NAV") per ordinary share as at 29 December 2023 was 180.11 pence.
In December, the NAV was up 2.77% in Sterling terms, whilst the BSE MidCap TR Index was up 7.30%, delivering an underperformance against the notional benchmark of 4.53%. In local currency terms, the NAV was up 3.00%.
The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 29 December 2023 was 189.38 pence.
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Portfolio analysis by sector as at 29 December 2023 |
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Sector |
No. of Companies |
% of Portfolio |
|
Financials |
7 |
25.4% |
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Consumer Discretionary |
7 |
16.7% |
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Materials |
6 |
14.4% |
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Industrials |
7 |
13.1% |
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Consumer Staples |
3 |
9.6% |
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Information Technology |
2 |
5.8% |
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Health Care |
1 |
3.1% |
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Communication Services |
1 |
2.9% |
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Real Estate |
0 |
0.0% |
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Energy |
0 |
0.0% |
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Utilities |
0 |
0.0% |
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Total Equity Investment |
34 |
90.9% |
|
Cash & cash equivalents |
|
9.1% |
|
Total Portfolio |
34 |
100.0% |
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Top 20 holdings as at 29 December 2023 |
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Holding |
Sector |
% of Portfolio |
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Federal Bank |
Financials |
5.8% |
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Indusind Bank |
Financials |
4.9% |
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IDFC Bank |
Financials |
4.8% |
|
Emami |
Consumer Staples |
4.5% |
|
Dixon Technologies |
Consumer Discretionary |
4.0% |
|
Persistent Systems |
Information Technology |
3.9% |
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RBL Bank |
Financials |
3.6% |
|
PI Industries |
Materials |
3.5% |
|
Ramkrishna Forgings |
Materials |
3.4% |
|
Sona BLW Precision Forgings |
Consumer Discretionary |
3.2% |
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Skipper |
Industrials |
3.2% |
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Neuland Laboratories |
Health Care |
3.1% |
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JK Lakshmi Cement |
Materials |
3.1% |
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Welspun India |
Consumer Discretionary |
3.0% |
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Affle India |
Communication Services |
2.9% |
|
Ashok Leyland |
Industrials |
2.7% |
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Jyothy Laboratories |
Consumer Staples |
2.7% |
|
Multi Commodity Exchange |
Financials |
2.6% |
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City Union Bank |
Financials |
2.5% |
|
CCL Products India |
Consumer Staples |
2.4% |
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Portfolio analysis by market capitalisation size as at 29 December 2023 |
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Market capitalisation size |
No. of Companies |
% of Portfolio |
|
Small Cap (M/Cap < US$2bn) |
16 |
35.5% |
|
Mid Cap (US$2bn < M/Cap < US$8bn) |
15 |
47.5% |
|
Large Cap (M/Cap > US$8bn) |
3 |
7.9% |
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Total Equity Investment |
34 |
90.9% |
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Net Cash |
|
9.1% |
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Total Portfolio |
34 |
100.0% |
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