06 October 2021
India Capital Growth Fund Limited (the "Company" or "ICGF")
Net Asset Value statement at 30 September 2021
The Company announces its Net Asset Value ("NAV") per ordinary share as at 30 September 2021 was 136.61 pence.
In September, the NAV was up 3.93% in Sterling terms, whilst the BSE MidCap TR Index was up 7.18%, delivering an underperformance against the notional benchmark of 3.25%. In local currency terms, the NAV was up 2.82% for the month.
The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 30 September 2021 was 140.48 pence.
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Portfolio analysis by sector as at 30 September 2021 |
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Sector |
No. of Companies |
% of Portfolio |
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Materials |
7 |
20.9% |
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Financials - Banks |
4 |
15.8% |
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Consumer Discretionary |
5 |
14.6% |
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Consumer Staples |
4 |
12.3% |
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Industrials |
4 |
9.4% |
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Information Technology |
2 |
8.1% |
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Health Care |
2 |
5.5% |
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Financials - Diversified |
1 |
2.5% |
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Communication Services |
1 |
2.5% |
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Utilities |
1 |
2.4% |
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Energy |
1 |
1.9% |
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Financials - Insurance |
0 |
0.0% |
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Real Estate |
0 |
0.0% |
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Total Equity Investment |
32 |
96.0% |
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Net Cash |
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4.0% |
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Total Portfolio |
32 |
100.0% |
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Top 20 holdings as at 30 September 2021 |
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Holding |
Sector |
% of Portfolio |
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Federal Bank |
Financials - Banks |
5.8% |
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Emami |
Consumer Staples |
4.9% |
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Welspun India |
Consumer Discretionary |
4.9% |
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Ramkrishna Forgings |
Materials |
4.8% |
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IndusInd Bank |
Financials - Banks |
4.6% |
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Tech Mahindra |
Information Technology |
4.2% |
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Persistent Systems |
Information Technology |
3.9% |
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PI Industries |
Materials |
3.9% |
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Kajaria Ceramics |
Industrials |
3.6% |
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Sagar Cements |
Materials |
3.4% |
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IDFC Bank |
Financials - Banks |
3.4% |
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Balkrishna Industries |
Consumer Discretionary |
3.0% |
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Jyothy Laboratories |
Consumer Staples |
2.9% |
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Divi's Laboratories |
Health Care |
2.8% |
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Aarti Industries |
Materials |
2.8% |
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Neuland Laboratories |
Health Care |
2.7% |
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Dixon Technologies |
Consumer Discretionary |
2.7% |
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JK Lakshmi Cement |
Materials |
2.6% |
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CCl Products India |
Consumer Staples |
2.6% |
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Multi Commodity Exchange |
Financials - Diversified |
2.5% |
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Portfolio analysis by market capitalisation size as at 30 September 2021 |
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Market capitalisation size |
No. of Companies |
% of Portfolio |
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Small Cap (M/Cap < US$1bn) |
9 |
24.2% |
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Mid Cap (US$1bn < M/Cap < US$7bn) |
20 |
60.1% |
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Large Cap (M/Cap > US$7bn) |
3 |
11.6% |
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Total Equity Investment |
32 |
96.0% |
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Net Cash |
|
4.0% |
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Total Portfolio |
32 |
100.0% |
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