RNS Announcement

11:30: Net Asset Value

India Capital Growth Fund Limited (the “Company” or “ICGF”)

Net Asset Value statement at 30 April 2020

The Company announces its Net Asset Value per share as at 30 April 2020 was 64.52 pence.

In April the Net Asset Value (NAV) was up 12.1% in Sterling terms, whilst the BSE MidCap TR Index was up 13.0%, delivering an under performance against the notional benchmark of 0.9%. In local currency terms, the NAV was up 12.8% for the month.

 

Portfolio analysis by sector as at 30 April 2020

Sector

No. of Companies

% of Portfolio

Materials

7

21.2%

Financials – Banks

5

15.1%

Consumer Staples

5

12.8%

Consumer Discretionary

4

11.8%

Industrials

4

10.3%

Health Care

3

9.5%

Information Technology

2

4.0%

Utilities

1

3.6%

Financials – Diversified

1

3.0%

Energy

1

2.5%

Financials – Insurance

1

1.1%

Real Estate

1

0.1%

Communication Services

0

0.0%

Total Equity Investment

35

95.1%

Net Cash

4.9%

Total Portfolio

35

100.0%

 

Top 20 holdings as at 30 April 2020

Holding

Sector

% of Portfolio

PI Industries

Materials

6.7%

Divi’s Laboratories

Health Care

6.2%

Federal Bank

Financials – Banks

5.4%

Jyothy Laboratories

Consumer Staples

4.2%

Bajaj Consumer Care

Consumer Discretionary

3.8%

Berger Paints India

Materials

3.8%

Gujarat Gas

Utilities

3.6%

City Union Bank

Financials – Banks

3.6%

Tech Mahindra

Information Technology

3.6%

Emami

Consumer Staples

3.5%

Kajaria Ceramics

Industrials

3.4%

Balkrishna Industries

Consumer Discretionary

3.1%

Multi Commodity Exchange

Financials – Diversified

3.0%

Finolex Cables

Industrials

2.9%

Exide Industries

Consumer Discretionary

2.8%

JK Lakshmi Cement

Materials

2.7%

Radico Khaitan

Consumer Staples

2.7%

The Ramco Cements

Materials

2.6%

Aegis Logistics

Energy

2.5%

IndusInd Bank

Financials – Banks

2.3%

 

Portfolio analysis by market capitalisation size as 30 April 2020

 

Market capitalisation size

No. of Companies

% of Portfolio

Small Cap (M/Cap < US$2bn)

26

63.1%

Mid Cap (US$2bn < M/Cap < US$7bn)

6

21.1%

Large Cap (M/Cap > US$7bn)

3

10.9%

Total Equity Investment

35

95.1%

Net Cash

4.9%

Total Portfolio

35

100.0%