Net Asset Value

RNS Number : 1500O

India Capital Growth Fund Limited

08 June 2022

 

08 June 2022

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

Net Asset Value statement at 31 May 2022

The Company announces its Net Asset Value ("NAV") per ordinary share as at 31 May 2022 was 117.42 pence.

In May, the NAV was down 9.28% in Sterling terms, whilst the BSE MidCap TR Index was down 7.25%, delivering an underperformance against the notional benchmark of 2.03%. In local currency terms, the NAV was down 7.24%.

The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 31 May 2022 was 120.13 pence. 

Portfolio analysis by sector as at 31 May 2022
Sector	No. of Companies	% of Portfolio
Financials	6	22.8%
Materials	7	19.2%
Consumer Discretionary	7	16.0%
Consumer Staples	3	9.5%
Industrials	4	9.3%
Information Technology	3	8.3%
Health Care	2	4.3%
Communication Services	1	3.4%
Energy	1	2.1%
Real Estate	0	0.0%
Utilities	0	0.0%
Total Equity Investment	34	94.9%
Net Cash		5.1%
Total Portfolio	34	100.0%
Top 20 holdings as at 31 May 2022
Holding	Sector	% of Portfolio
Federal Bank	Financials	6.2%
Indusind Bank	Financials	4.9%
Ramkrishna Forgings	Materials	4.6%
Emami	Consumer Staples	4.4%
Persistent Systems	Information Technology	4.3%
City Union Bank	Financials	4.0%
IDFC Bank	Financials	4.0%
Balkrishna Industries	Consumer Discretionary	3.6%
Tech Mahindra	Information Technology	3.5%
PI Industries	Materials	3.5%
Affle India	Communication Services	3.4%
Kajaria Ceramics	Industrials	3.2%
Sagar Cements	Materials	3.0%
Jyothy Laboratories	Consumer Staples	2.8%
Aarti Industries	Materials	2.7%
Bajaj Electricals	Consumer Discretionary	2.7%
Dixon Technologies	Consumer Discretionary	2.7%
Multi Commodity Exchange	Financials	2.6%
Neuland Laboratories	Health Care	2.5%
Welspun India	Consumer Discretionary	2.4%
Portfolio analysis by market capitalisation size as at 31 May 2022
Market capitalisation size	No. of Companies	% of Portfolio
Small Cap (M/Cap < US$2bn)	16	42.4%
Mid Cap (US$2bn < M/Cap < US$8bn)	15	42.2%
Large Cap (M/Cap > US$8bn)	3	10.3%
Total Equity Investment	34	94.9%
Net Cash		5.1%
Total Portfolio	34	100.0%

 

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