Net Asset Value
06 September 2023
India Capital Growth Fund Limited (the "Company" or "ICGF")
Net Asset Value statement at 31 August 2023
The Company announces its Net Asset Value ("NAV") per ordinary share as at 31 August 2023 was 165.38 pence.
In August, the NAV was up 5.81% in Sterling terms, whilst the BSE MidCap TR Index was up 3.39%, delivering an outperformance against the notional benchmark of 2.42%. In local currency terms, the NAV was up 5.14%.
The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 31 August 2023 was 172.84 pence.
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Portfolio analysis by sector as at 31 August 2023 |
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Sector |
No. of Companies |
% of Portfolio |
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Financials |
7 |
23.5% |
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Consumer Discretionary |
8 |
18.3% |
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Materials |
7 |
16.7% |
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Industrials |
6 |
15.0% |
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Consumer Staples |
3 |
9.8% |
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Information Technology |
2 |
5.2% |
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Health Care |
1 |
3.8% |
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Communication Services |
1 |
2.6% |
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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 |
35 |
94.9% |
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Cash & cash equivalents |
|
5.1% |
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Total Portfolio |
35 |
100.0% |
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Top 20 holdings as at 31 August 2023 |
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Holding |
Sector |
% of Portfolio |
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IDFC Bank |
Financials |
6.0% |
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Federal Bank |
Financials |
5.9% |
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Ramkrishna Forgings |
Materials |
5.3% |
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Indusind Bank |
Financials |
4.7% |
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Skipper |
Industrials |
4.1% |
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Emami |
Consumer Staples |
3.9% |
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Neuland Laboratories |
Health Care |
3.8% |
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Dixon Technologies |
Consumer Discretionary |
3.4% |
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Jyothy Laboratories |
Consumer Staples |
3.4% |
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Persistent Systems |
Information Technology |
3.3% |
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Sona BLW Precision Forgings |
Consumer Discretionary |
3.3% |
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PI Industries |
Materials |
3.0% |
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Kajaria Ceramics |
Industrials |
2.9% |
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Welspun India |
Consumer Discretionary |
2.9% |
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Affle India |
Communication Services |
2.6% |
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VIP Industries |
Consumer Discretionary |
2.6% |
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JK Lakshmi Cement |
Materials |
2.6% |
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CCL Products India |
Consumer Staples |
2.5% |
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Balkrishna Industries |
Consumer Discretionary |
2.4% |
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Uniparts India |
Industrials |
2.3% |
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Portfolio analysis by market capitalisation size as at 31 August 2023 |
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Market capitalisation size |
No. of Companies |
% of Portfolio |
|
Small Cap (M/Cap < US$2bn) |
17 |
45.4% |
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Mid Cap (US$2bn < M/Cap < US$8bn) |
15 |
41.8% |
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Large Cap (M/Cap > US$8bn) |
3 |
7.7% |
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Total Equity Investment |
35 |
94.9% |
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Net Cash |
|
5.1% |
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Total Portfolio |
35 |
100.0% |
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