Following the shock resignation of Urjit Patel, former Governor of the Reserve Bank of India, Gaurav Narain, Fund Adviser for ICGF, discusses the possible factors that led to this event and what it means for the Fund.
David Cornell, Fund Manager of India Capital Growth Fund, talks to Citywire’s Vicky Mckeever about India’s economy in light of the fall in oil price and touches on top buys for the fund.
In this podcast with the Investors Chronicle, David Cornell, CIO of ICGF, discusses India and the best growth opportunities in the Indian market.
Andrew van Sickle of MoneyWeek highlights India Capital Growth as its ‘one to watch’, its small and mid cap focus offering higher long-term returns than its large cap focused peers.
Gaurav Narain, Fund Adviser for India Capital Growth, talks to FE Trustnet about the recent market volatility in India, highlighting the importance of a strong investment strategy when it comes to stock picking.
David Cornell, Chief Investment Officer at Ocean Dial Asset Management and manager of India Capital Growth Fund, discusses the performance of Indian equities ahead of the 2019 general election and in the context of other global factors in this article for Investment Week.
Merryn Somerset Webb of the Financial Times discusses India’s growth potential and recommends India Capital Growth as the most interesting fund to gain access to the market at present.
Jeff Prestige, columnist at “This is Money” has been talking with Nick Greenwood, Fund Manager of Miton Global Opportunities, an investment trust listed on the London Stock Exchange. Greenwood has been topping up his second largest holding, India Capital Growth Fund and remarked, “At some stage, this market judgment will move from negative to positive, which will result in a rerating of the company’s shares… India Capital Growth is being judged on its indifferent long-term investment track record rather than that delivered by the current manager who has turned things around. He also goes on to say, “the company’s performance has been rejuvenated in recent years by new managers Ocean Dial Asset Management”. But the market, he says, “has yet to appreciate this resulting in its shares trading at a big 17 per cent discount.”
David Brenchly, reporter at Morningstar, writes about the opportunity for investors in India, “Albert Einstein is said to have called compound interest the eighth wonder of the world and Warren Buffett holds it as one of the biggest factors behind his incredible investment success. Compounding should certainly be a big consideration for any investor.” David Cornell, chief investment officer at Ocean Dial, which runs the India Capital Growth Trust (ICG), adds “Stocks in India can compound between 15-20% every year for donkey’s years.
Evening Standard – Fund Stars – 26/07/2018
Matthew Bow of the Evening Standard discusses recent activity in the India Capital Growth Fund with fund adviser, Gaurav Narain, Head of Equities at Ocean Dial Asset Management. Gaurav comments “Indian shares were overvalued three months ago…most stocks have come off by almost 25% to 30% over the last few months. The Sensex and the Nifty have gone up, but the small and mid-cap are down by 13-14% so really the top five stocks in India are driving the market up.”
Ian Cowie refers to India Capital Growth (IGC) Fund as one of a handful of investment trusts he holds in high esteem, referring also to the Fund’s new marketing and distribution partner, Frostrow Capital. Ian is very complimentary of Frostrow Capital and their selection of high calibre clients in the closed-ended space.
Marten & Co provide an update on India Capital Growth Fund, highlighting the Portfolio’s uptick in earnings growth post the disruption of both demonetisation and GS. Gaurav Narain, investment adviser to IGC says “we could see companies in the portfolio reporting average earnings growth of at least 20% per annum for the 2019 and 2020 fiscal years.”
Jonathan Jones, reporter at Trustnet has been speaking with CIO of Ocean Dial, David Cornell, Fund Manager of the five FE Crown-rated India Capital Growth Fund. Cornell says investors should buy into India before the election next year to take advantage of opportunities, “because real interest rates are positive and because it is now hard to hide cash on which tax has not been paid and because bond yields are down there is a bucket load of money pouring into the equity market .”
Jonathan Jones, reported at Trustnet has been speaking with CIO of Ocean Dial, David Cornell, Fund Manager of the five FE Crown-rated India Capital Growth Fund. Cornell says investors should buy into India before the election next year to take advantage of opportunities, “because real interest rates are positive and because it is now hard to hide cash on which tax has not been paid and because bond yields are down there is a bucket load of money pouring into the equity market .”
Investment Week’s Jayna Rayna has been speaking with Ocean Dial’s CIO, David Cornell, manager of the India Capital Growth Fund. Cornell says “structural reform and technological revolution in India have led to a change in traditions and cultural behaviours, which in turn is having a positive impact on the country’s economic climate and outlook for equities…the traditional management culture of an Indian family would be for it to extract wealth from its business and not worry about what multiple the stock is trading on,” he said. “These days that has changed, particularly in the small and mid-cap market”, an area of focus for the India Capital Growth Fund.
David Cornell, Chief Investment Officer at Ocean Dial Asset Management and manager of India Capital Growth Fund, discusses the opportunity for investors in India. Cornell emphasises the importance of having a team “on the ground” who understand the local market, “They certainly should not miss India, which is the world’s sixth-largest economy with a population of 1.3 billion, second only to China. The economy is growing at around 7% a year (the UK is managing 1.8%) and the Indian stockmarket boasts more than 5,000 listed companies compared with the 2,600 in the UK.
Maitane Sardon, a reporter at FE Trustnet, highlights that India Capital Growth Fund is now trading on a double digit discount despite having delivered the best returns over three years, according to research by FE Trustnet. India Capital Growth Fund holds the maximum number of FE Crowns that can be awarded.