Net Asset Value
04 August 2023
India Capital Growth Fund Limited (the "Company" or "ICGF")
Net Asset Value statement at 31 July 2023
The Company announces its Net Asset Value ("NAV") per ordinary share as at 31 July 2023 was 156.30 pence.
In July, the NAV was up 3.73% in Sterling terms, whilst the BSE MidCap TR Index was up 3.64%, delivering an outperformance against the notional benchmark of 0.09%. In local currency terms, the NAV was up 5.99%.
The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 31 July 2023 was 162.91 pence.
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Portfolio analysis by sector as at 31 July 2023 |
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Sector |
No. of Companies |
% of Portfolio |
|
Financials |
6 |
22.3% |
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Consumer Discretionary |
8 |
18.2% |
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Materials |
7 |
16.7% |
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Industrials |
6 |
15.1% |
|
Consumer Staples |
3 |
10.0% |
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Information Technology |
2 |
5.0% |
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Health Care |
1 |
3.9% |
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Communication Services |
1 |
2.8% |
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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 |
93.9% |
|
Cash & cash equivalents |
|
6.1% |
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Total Portfolio |
34 |
100.0% |
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Top 20 holdings as at 31 July 2023 |
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Holding |
Sector |
% of Portfolio |
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IDFC Bank |
Financials |
5.9% |
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Federal Bank |
Financials |
5.9% |
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Indusind Bank |
Financials |
5.1% |
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Ramkrishna Forgings |
Materials |
5.0% |
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Neuland Laboratories |
Health Care |
3.9% |
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Jyothy Laboratories |
Consumer Staples |
3.7% |
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Skipper |
Industrials |
3.6% |
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Emami |
Consumer Staples |
3.6% |
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Sona BLW Precision Forgings |
Consumer Discretionary |
3.3% |
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PI Industries |
Materials |
3.1% |
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Persistent Systems |
Information Technology |
3.1% |
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Kajaria Ceramics |
Industrials |
3.0% |
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Dixon Technologies |
Consumer Discretionary |
3.0% |
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Affle India |
Communication Services |
2.8% |
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Balkrishna Industries |
Consumer Discretionary |
2.7% |
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CCL Products India |
Consumer Staples |
2.7% |
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Uniparts India |
Industrials |
2.7% |
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Welspun India |
Consumer Discretionary |
2.7% |
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City Union Bank |
Financials |
2.6% |
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VIP Industries |
Consumer Discretionary |
2.4% |
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Portfolio analysis by market capitalisation size as at 31 July 2023 |
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Market capitalisation size |
No. of Companies |
% of Portfolio |
|
Small Cap (M/Cap < US$2bn) |
17 |
45.7% |
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Mid Cap (US$2bn < M/Cap < US$8bn) |
14 |
40.0% |
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Large Cap (M/Cap > US$8bn) |
3 |
8.2% |
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Total Equity Investment |
34 |
93.9% |
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Net Cash |
|
6.1% |
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Total Portfolio |
34 |
100.0% |
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