REG - India CapitalGrwthFd - Net Asset Value

India Capital Growth FundAnnouncement

05/01/2024 10:30

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RNS Number : 8039Y  India Capital Growth Fund Limited  05 January 2024

05 January 2024

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

Net Asset Value statement at 29 December 2023

The Company announces its Net Asset Value ("NAV") per ordinary share as at 29
December 2023 was 180.11 pence.

In December, the NAV was up 2.77% in Sterling terms, whilst the BSE MidCap TR
Index was up 7.30%, delivering an underperformance against the notional
benchmark of 4.53%. In local currency terms, the NAV was up 3.00%.

The Company also announces its Net Asset Value per ordinary share before
Indian CGT (deferred tax provision) as at 29 December 2023 was 189.38 pence.

 

 Portfolio analysis by sector as at 29 December 2023

 Sector                                   No. of Companies        % of Portfolio
 Financials                               7                       25.4%
 Consumer Discretionary                   7                       16.7%
 Materials                                6                       14.4%
 Industrials                              7                       13.1%
 Consumer Staples                         3                       9.6%
 Information Technology                   2                       5.8%
 Health Care                              1                       3.1%
 Communication Services                   1                       2.9%
 Real Estate                              0                       0.0%
 Energy                                   0                       0.0%
 Utilities                                0                       0.0%
 Total Equity Investment                  34                      90.9%
 Cash & cash equivalents                                          9.1%
 Total Portfolio                          34                      100.0%

 Top 20 holdings as at 29 December 2023

 Holding                                  Sector                  % of Portfolio
 Federal Bank                             Financials              5.8%
 Indusind Bank                            Financials              4.9%
 IDFC Bank                                Financials              4.8%
 Emami                                    Consumer Staples        4.5%
 Dixon Technologies                       Consumer Discretionary  4.0%
 Persistent Systems                       Information Technology  3.9%
 RBL Bank                                 Financials              3.6%
 PI Industries                            Materials               3.5%
 Ramkrishna Forgings                      Materials               3.4%
 Sona BLW Precision Forgings              Consumer Discretionary  3.2%
 Skipper                                  Industrials             3.2%
 Neuland Laboratories                     Health Care             3.1%
 JK Lakshmi Cement                        Materials               3.1%
 Welspun India                            Consumer Discretionary  3.0%
 Affle India                              Communication Services  2.9%
 Ashok Leyland                            Industrials             2.7%
 Jyothy Laboratories                      Consumer Staples        2.7%
 Multi Commodity Exchange                 Financials              2.6%
 City Union Bank                          Financials              2.5%
 CCL Products India                       Consumer Staples        2.4%

 Portfolio analysis by market capitalisation size as at 29 December 2023
                                          No. of Companies        % of Portfolio

 Market capitalisation size
 Small Cap (M/Cap < US$2bn)               16                      35.5%
 Mid Cap (US$2bn < M/Cap < US$8bn)        15                      47.5%
 Large Cap (M/Cap > US$8bn)               3                       7.9%
 Total Equity Investment                  34                      90.9%
 Net Cash                                                         9.1%
 Total Portfolio                          34                      100.0%

 

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