RNS Announcement

12:42: Net Asset Value

4 September 2020

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

Net Asset Value statement at 31 August 2020

The Company announces its Net Asset Value per share as at 31 August 2020 was 80.15 pence.

In August the Net Asset Value (NAV) was up 10.3% in Sterling terms, whilst the BSE MidCap TR Index was up 6.7%, delivering an outperformance against the notional benchmark of 3.6%. In local currency terms, the NAV was up 10.3% for the month.

 

Portfolio analysis by sector as at 31 August 2020

Sector

No. of Companies

% of Portfolio

Materials

8

22.3%

Consumer Staples

4

15.8%

Financials – Banks

4

14.4%

Consumer Discretionary

4

10.6%

Industrials

4

10.1%

Health Care

2

8.4%

Information Technology

2

4.7%

Utilities

1

3.9%

Financials – Diversified

1

3.5%

Energy

1

2.8%

Financials – Insurance

1

2.2%

Real Estate

1

0.1%

Communication Services

0

0.0%

Total Equity Investment

33

98.8%

Net Cash

1.2%

Total Portfolio

33

100.0%

 

Top 20 holdings as at 31 August 2020

Holding

Sector

% of Portfolio

PI Industries

Materials

5.9%

Divi’s Laboratories

Health Care

5.9%

Emami

Consumer Staples

5.7%

Federal Bank

Financials – Banks

4.7%

IndusInd Bank

Financials – Banks

4.1%

Jyothy Laboratories

Consumer Staples

4.0%

Gujarat Gas

Utilities

3.9%

Tech Mahindra

Information Technology

3.7%

Multi Commodity Exchange

Financials – Diversified

3.5%

Balkrishna Industries

Consumer Discretionary

3.3%

Welspun India

Consumer Discretionary

3.3%

Bajaj Consumer Care

Consumer Staples

3.2%

City Union Bank

Financials – Banks

3.1%

Kajaria Ceramics

Industrials

3.0%

JK Lakshmi Cement

Materials

3.0%

CCL Products India

Consumer Staples

3.0%

Aegis Logistics

Energy

2.8%

Skipper

Industrials

2.8%

Berger Paints India

Materials

2.7%

Neuland Laboratories

Health Care

2.5%

 

Portfolio analysis by market capitalisation size as at 31 August 2020

 

Market capitalisation size

No. of Companies

% of Portfolio

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

21

54.4%

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

8

29.9%

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

4

14.5%

Total Equity Investment

33

98.8%

Net Cash

1.2%

Total Portfolio

33

100.0%

 

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