Net Asset Value
06 February 2024
India Capital Growth Fund Limited (the "Company" or "ICGF")
Net Asset Value statement at 31 January 2024
The Company announces its Net Asset Value ("NAV") per ordinary share as at 31 January 2024 was 183.49 pence.
In January, the NAV was up 1.88% in Sterling terms, whilst the BSE MidCap TR Index was up 6.06%, delivering an underperformance against the notional benchmark of 4.18%. In local currency terms, the NAV was up 1.11%.
The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 31 January 2024 was 192.53 pence.
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Portfolio analysis by sector as at 31 January 2024 |
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Sector |
No. of Companies |
% of Portfolio |
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Financials |
7 |
23.4% |
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Consumer Discretionary |
7 |
19.2% |
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Materials |
5 |
15.3% |
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Industrials |
5 |
14.2% |
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Consumer Staples |
3 |
9.5% |
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Information Technology |
2 |
6.2% |
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Health Care |
1 |
4.4% |
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Communication Services |
1 |
3.2% |
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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 |
31 |
95.3% |
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Cash & cash equivalents |
|
4.7% |
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Total Portfolio |
31 |
100.0% |
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Top 20 holdings as at 31 January 2024 |
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Holding |
Sector |
% of Portfolio |
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Federal Bank |
Financials |
5.3% |
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IDFC Bank |
Financials |
4.4% |
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Neuland Laboratories |
Health Care |
4.4% |
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Dixon Technologies |
Consumer Discretionary |
4.3% |
|
Ramkrishna Forgings |
Materials |
4.1% |
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Emami |
Consumer Staples |
4.1% |
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Skipper |
Industrials |
4.0% |
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Persistent Systems |
Information Technology |
3.9% |
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RBL Bank |
Financials |
3.9% |
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Indusind Bank |
Financials |
3.8% |
|
Sona BLW Precision Forgings |
Consumer Discretionary |
3.6% |
|
JK Lakshmi Cement |
Materials |
3.5% |
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PI Industries |
Materials |
3.3% |
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Welspun India |
Consumer Discretionary |
3.3% |
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Affle India |
Communication Services |
3.2% |
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Ashok Leyland |
Industrials |
3.0% |
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CCL Products India |
Consumer Staples |
2.9% |
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Kajaria Ceramics |
Industrials |
2.9% |
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VIP Industries |
Consumer Discretionary |
2.7% |
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Multi Commodity Exchange |
Financials |
2.6% |
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Portfolio analysis by market capitalisation size as at 31 January 2024 |
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Market capitalisation size |
No. of Companies |
% of Portfolio |
|
Small Cap (M/Cap < US$2bn) |
14 |
41.6% |
|
Mid Cap (US$2bn < M/Cap < US$8bn) |
14 |
46.4% |
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Large Cap (M/Cap > US$8bn) |
3 |
7.3% |
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Total Equity Investment |
31 |
95.3% |
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Net Cash |
|
4.7% |
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Total Portfolio |
31 |
100.0% |
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