Net Asset Value

RNS Number : 6901D

India Capital Growth Fund Limited

04 March 2022

 

04 March 2022

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

Net Asset Value statement at 28 February 2022

The Company announces its Net Asset Value ("NAV") per ordinary share as at 28 February 2022 was 119.83 pence. 

In February, the NAV was down 9.04% in Sterling terms, whilst the BSE MidCap TR Index was down 5.15%, delivering an underperformance against the notional benchmark of 3.90%. In local currency terms, the NAV was down 8.78%.

The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 28 February 2022 was 122.42 pence.

Portfolio analysis by sector as at 28 February 2022
Sector	No. of Companies	% of Portfolio
Financials - Banks	4	19.2%
Materials	7	18.9%
Consumer Discretionary	7	16.8%
Consumer Staples	3	11.0%
Industrials	4	9.2%
Information Technology	2	8.2%
Health Care	2	4.9%
Communication Services	1	3.8%
Financials - Diversified	1	2.3%
Energy	1	1.9%
Financials - Insurance	0	0.0%
Utilities	0	0.0%
Real Estate	0	0.0%
Total Equity Investment	32	96.1%
Net Cash		3.9%
Total Portfolio	32	100.0%
Top 20 holdings as at 28 February 2022
Holding	Sector	% of Portfolio
Federal Bank	Financials - Banks	6.8%
Emami	Consumer Staples	5.0%
IndusInd Bank	Financials - Banks	4.6%
IDFC Bank	Financials - Banks	4.4%
Ramkrishna Forgings	Materials	4.3%
Persistent Systems	Information Technology	4.2%
Tech Mahindra	Information Technology	4.0%
Affle India	Communication Services	3.8%
Welspun India	Consumer Discretionary	3.6%
City Union Bank	Financials - Banks	3.4%
Aarti Industries	Materials	3.2%
Kajaria Ceramics	Industrials	3.2%
Jyothy Laboratories	Consumer Staples	3.1%
Sagar Cements	Materials	3.1%
Bajaj Electricals	Consumer Discretionary	3.0%
PI Industries	Materials	3.0%
CCL Products India	Consumer Staples	2.9%
Balkrishna Industries	Consumer Discretionary	2.7%
Sona BLW Precision Forgings	Consumer Discretionary	2.6%
Dixon Technologies	Consumer Discretionary	2.6%
Portfolio analysis by market capitalisation size as at 28 February 2022
Market capitalisation size	No. of Companies	% of Portfolio
Small Cap (M/Cap < US$2bn)	15	39.5%
Mid Cap (US$2bn < M/Cap < US$8bn)	14	45.4%
Large Cap (M/Cap > US$8bn)	3	11.2%
Total Equity Investment	32	96.1%
Net Cash		3.9%
Total Portfolio	32	100.0%

 

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