Net Asset Value
06 January 2022
India Capital Growth Fund Limited (the "Company" or "ICGF")
Net Asset Value statement at 31 December 2021
The Company announces its Net Asset Value ("NAV") per ordinary share as at 31 December 2021 was 134.74 pence.
In December, the NAV was up 2.29% in Sterling terms, whilst the BSE MidCap TR Index was up 0.83%, delivering an outperformance against the notional benchmark of 1.46%. In local currency terms, the NAV was up 2.61%.
The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 31 December 2021 was 138.83 pence.
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Portfolio analysis by sector as at 31 December 2021 |
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Sector |
No. of Companies |
% of Portfolio |
|
Materials |
7 |
19.0% |
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Consumer Discretionary |
6 |
16.7% |
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Financials - Banks |
4 |
15.1% |
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Information Technology |
2 |
10.4% |
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Consumer Staples |
3 |
9.0% |
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Industrials |
4 |
8.7% |
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Health Care |
2 |
5.4% |
|
Communication Services |
1 |
2.7% |
|
Financials - Diversified |
1 |
2.4% |
|
Utilities |
1 |
2.4% |
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Energy |
1 |
1.9% |
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Financials - Insurance |
0 |
0.0% |
|
Real Estate |
0 |
0.0% |
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Total Equity Investment |
32 |
93.7% |
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Net Cash |
|
6.3% |
|
Total Portfolio |
32 |
100.0% |
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Top 20 holdings as at 31 December 2021 |
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Holding |
Sector |
% of Portfolio |
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Federal Bank |
Financials - Banks |
5.7% |
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Tech Mahindra |
Information Technology |
5.5% |
|
Persistent Systems |
Information Technology |
4.9% |
|
Emami |
Consumer Staples |
4.0% |
|
Welspun India |
Consumer Discretionary |
4.0% |
|
Ramkrishna Forgings |
Materials |
3.8% |
|
PI Industries |
Materials |
3.8% |
|
IndusInd Bank |
Financials - Banks |
3.7% |
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IDFC Bank |
Financials - Banks |
3.4% |
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Dixon Technologies |
Consumer Discretionary |
3.2% |
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Kajaria Ceramics |
Industrials |
3.2% |
|
Aarti Industries |
Materials |
3.0% |
|
Sona BLW Precision Forgings Limited |
Consumer Discretionary |
2.8% |
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Balkrishna Industries |
Consumer Discretionary |
2.8% |
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Sagar Cements |
Materials |
2.8% |
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Divi's Laboratories |
Health Care |
2.8% |
|
Affle India Ltd |
Communication Services |
2.7% |
|
CCL Products India |
Consumer Staples |
2.6% |
|
Neuland Laboratories |
Health Care |
2.6% |
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Bajaj Electricals Ltd |
Consumer Discretionary |
2.6% |
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Portfolio analysis by market capitalisation size as at 31 December 2021 |
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Market capitalisation size |
No. of Companies |
% of Portfolio |
|
Small Cap (M/Cap < US$2bn) |
15 |
36.6% |
|
Mid Cap (US$2bn < M/Cap < US$8bn) |
14 |
45.1% |
|
Large Cap (M/Cap > US$8bn) |
3 |
12.0% |
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Total Equity Investment |
32 |
93.7% |
|
Net Cash |
|
6.3% |
|
Total Portfolio |
32 |
100.0% |
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