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Started: ba24ee, 14 Mar 2024 15:37
Last post: bigboyblue, 4 May 2024 11:24
......and up 27% since then. This share is prone to sudden dips out of all proportion to dips in the NAV, (see also Oct '23, Oct '22 and March '22) but it always bounces back pretty quickly, supported by the availability of the biannual redemption facility.
IGC down 17% in a week, bit of a tumble....
My jupiter india also down from 2.52p to 2.30p.obviously india stock mat]rket down.I bought in here today.
Started: Southerhay, 13 Mar 2024 17:29
Last post: Resipsa, 13 Mar 2024 21:38
I’m in the same boat. From what I’ve read around the Indian Stock Market a pullback was apparently expected, before moving up again.
I don’t think it is specific to IGC or due to any change in its fundamentals, IMO of course.
Hi there - recently bought some of these and they were doing well for a few weeks but dropped the past few days - any thoughts? Cheers
Rocketing up, and unlikely to, but a steady gainer.
Started: goldust88, 7 Oct 2016 12:09
Last post: laallee, 13 Nov 2023 15:44
And an all time high reached today- 167p
Yes indeed. The rise has been more than welcome. I have been purchasing monthly since late May and I am currently up 15%. The next lot will be my last, it does appear to be a little bit bubbly...
Bought some of these a few months back. They’ve been spectacular so far. Well worth the 2% ongoing charge as they have outstripped my other 6 Indian funds which have all done well. The fund managers appear to know what they’re doing here……
I wouldn't criticise anyone for banking a profit, but remember the redemption facility in December should continue to support the share price for the next few months.
I have banked profits today.
Started: Cottill, 6 Nov 2023 16:27
Last post: laallee, 13 Nov 2023 15:43
Cottill
Yes, that's a strange one. I can sell IGC but I cannot buy them.
Re Halifax-
Investment into this asset is currently unavailable through our service. This could be for a number of reasons, such as the asset no longer meets our policy, the manager of the asset has declared it does not provide value or due to a change in regulation. Please visit our research centre for alternatives.
For some reason Halifax share dealing have stopped trading IGC, anyone know why?
Started: ripley94, 27 May 2023 08:22
Last post: ripley94, 27 May 2023 08:22
Sold my holding for 135p.
Low on cash and this the best it has been .
Bought them 28/9/2017 for 98.25p.
Might come back in if looking to invest spare funds in future .
15/4/20 I see a low of 33p .
Hope there for my other losers.
6 year wait .
Started: FONDA, 13 Sep 2022 14:58
Last post: FONDA, 13 Sep 2022 14:58
Important opportunity to see and hear more at this time . Pleased it is still going ahead and they are presenting.
https://www.sharesmagazine.co.uk/events/event/shares-investor-evening-london-live-event-14092022
Started: piworld, 8 Apr 2022 10:54
Last post: piworld, 8 Apr 2022 10:54
Lilian Nandi ‘slams’ India Capital Growth Fund (IGC) in the latest PIWORLD/Stockopedia StockSlam at 24m26s
Watch the video here: https://www.piworld.co.uk/education-videos/stockopedia-piworld-stockslam-april-2022/
Or listen to the podcast here: https://piworld.podbean.com/e/stockopediapiworld-stockslam-april-2022/
Started: Arpea, 16 Dec 2021 14:34
Last post: Davesgold, 16 Dec 2021 20:12
I emailed the company and this was included within the answer: The Redemption Price per share will be equal to the aggregate cash received by the Company upon the realisation of the Redemption Pool (which is based upon the Net Asset Value of ICGF at 31 December 2021) less the Exit Discount of 6% divided by the aggregate number of Redemption Shares.
I don’t believe it clearly answers your question but it may be worth contacting them direct .
If I were to use the year end redemption offer (NAV -6%), does anyone know which NAV is used? The "normal" NAV or the Net Asset Value per ordinary share before Indian CGT deferred tax provision?
Thanks in advance.
Started: Spikeyj, 15 Dec 2021 00:08
Last post: Spikeyj, 15 Dec 2021 00:08
Started: Davesgold, 13 Dec 2021 17:41
Last post: Davesgold, 13 Dec 2021 17:41
The company are offering a share redemption at an exit discount of 6% on 31/12. My belief is that it would be in my interests not to accept their offer as hopefully share value will increase post this action. I would welcome a more expert view .
Started: Odysseus07, 30 Apr 2021 20:37
Last post: Alas_Smith, 14 Oct 2021 00:57
I've dipped a toe in with a purchase for elder son in his ISA. It has been interpreted as bargain executed on the "sell" side.
India is expected over the next decade to become the 3rd largest economy but has rather been overlooked by global investors preferring China.
Still going strong and the NAV growing all the time. I added more today as the underlying momentum is pushing the SP to recent highs.
hey fallingknife. Thanks for that. I think I'm going to continue monthly investing in this.... 20 years time and should grow with the indian economy... and who knws, maybe even dividend at some point???
Odysseus it has been a bit of a journey all right. The tender at the end of the year will be useful. I do worry about the state of the Indian economy and the Covid effects. I wish I bought more around 60p but still have been a buyer at 70p, 80p and 90p. Must check the NAV to see if I should sell and buy back.
NAV now 95.4p India technically in recession and with COVID rampant I am still optimistic that we’ll get to a pound by the end of the year
Don't think that is true mcco as every holder including myself would do the same. I think the shares would drop anyway in that case leaving you no better off. I bought some today to average down but still have an average buy of 90p. Hoping the climb can continue though to reach 80p and then 90p.
I heard that there could be an option for holders to cash in their shares at NAV in October. Is this true? If so, I would plan to do so and reinvest the proceeds
Started: JalfreziorMadras, 30 Jul 2020 14:28
Last post: mcco, 21 Aug 2020 09:57
NAV reaches 80.74p today but SP hasn’t reciprocated
NAV creeping up slowly and steadily over the last month from 70p; that's the way I like it!
Should we expect 80p next week?
Looking forward to seeing this SP rise over the next 2 years. If it doesn't perform well over the next 2 years then you are getting a 20% return from today, if share prices stayed the same, if you choose to cash in your chips. What's not to like about that?
India over the next 10 years will be an interesting place to invest, if you can get your selections right the returns could be substantial. Share prices have stagnated and fallen over the last 10 years but this won't continue IMO.
As previously said, the main shareholdings aren't too heavy and with a doubled up investment team that can only be positive, surely.
With the talk of a return to a small amount of inflation in emerging markets, this should start to improve the outlook for some of the holdings.
Started: mcco, 2 Jul 2020 13:26
Last post: mcco, 2 Jul 2020 13:26
I know I'm a lone voice on this Board, but I still cannot fathom why there is such a large discount in the SP compared with the NAV. Also, there seems to be no understandable correlation between the SP and the daily NAV; for instance, today the NAV rose from 69.77 to 70.36 and the SP bid price fell from 54.60 to 53.20. Good however to see the Chair has increased her shareholding
NAV now over 70p - it’s been a while since we saw 70p
Still a huge discount in the SP for a fund which is not top heavy in any of its holdings
NAV 66.89p
Bid 51.20p
Offer 53p
Vote tomorrow to wind up Fund and receive c65p
Why not?
Discount to NAV is now c33% so surely the financial argument for closure and liquidation of the Fund is indisputable
It seems that if the vote to liquidate the fund goes through,shareholders will get a 20% uplift with the NAV above 60p even allowing for costs of liquidation. As the shares held in the Fund are relatively widely disbursed there should be very little discount to to the market price
The Board is likely to recommend that the Fund stays open. Why? Or is that a too obvious question? The Fund Managers have had a disastrous record, unless of course the Board overruled their recommendations. If the vote to continue goes through we will probably be back to a substantial reduction in the SP. So the vote seems to be a no brained; make 20% or lose 20%
In Dec 2017 I sold all my shares in igc and posted the following on this site:
This investment trust has an excellent investment manager. However I do have my doubts on the the Board running this excellent investment trust. I can see no advantage to a listing on the main market which is currently being considered and I do not believe it is in the interests of the shareholders. The disadvantages of a main listing are:.
Stamp duty would be become payable when shareholders make further purchases.
Inheritance tax would become payable on holdings in India Capital Growth Fund (at present exempt on Aim if held for two years)
Higher regulatory fees
The Directors were going to reduce the discount to NAV once it was on the Main Market. All they have done is drive away small private investors such as myself. The discount has gone for around 15 /16 per cent when on Aim to about 32 per cent.
The Board needs sacking.
Discount to NAV now 50%
The NAV is 66.7 so why are people selling at 40, a huge discount?
The Board and investment advisors have a lot to answer
The SP this morning shows a fall in NAV of c4% (a very large fall), yet the SP increases by c!%
Strange
I don't know what the fall in the NAV reflects. Coronavirus probably, but surely a delayed reaction
Started: mcco, 17 Mar 2020 11:20
Last post: mcco, 17 Mar 2020 11:20
I'm not a professional investment manager, but I would like to think that if I were I would have liquidated some of my holdings in Indian corporates after the Chinese Virus was seen to be spreading. NAV has fallen over 40% since mid February. Who's making decisions? Anyone?
Started: BigCamera, 31 Jan 2020 13:57
Last post: BigCamera, 31 Jan 2020 13:57
The SP should go up now, buy now at this price if you're thinking about it.
I take your point, Fallingknife, but our holdings in our invested companies are a very small proportion of the shares in each company, so we should be able to sell at very close to the market price should we choose to liquidate. At the moment we appear to be depreciating the value of each investment by over 20%on purchase. Like you I got in here at over a pound so am down 25%
Well mcco, many investments operate at a discount to NAV simply because if you had a firesale then you would take whatever price you could get. That said I have been disappointed with how low this has fallen. My largest purchase has been at 101p but most in the 80s. Since it hit 70p I feel the recovery in the SP has been strong and I am hoping that India which is growing fast can be a good place for investment. Hopefully sentiment has changed here and NAV can go back to 108p which I believe it has reached previously.
At the current bid price of 73.6p against a NAV estimate of 93.08, this represents a discount of over 25% by mt inexpert calculations. Why?
It seems that the purchase of 15,000 shares by the Chair is responsible for the 6% rise in today's SP?
Would a few more Board members please show their confidence by buying shares
Disappointing but mid caps always drop more than the big companies, SP 20% down on NAV
Would some professional investor who has the time and expertise please draw a graph comparing the Company’s NAV with the Mumbai index of the top 100 shares. Especially considering the weakness of sterling the Company’s investments have not been a success
Did I see today a story that Trump is/has tearing up/torn up the trading agreement with India ? Not good for us if he has, I fear
Started: Fallingknife1, 20 May 2019 13:51
Last post: Fallingknife1, 20 May 2019 13:51
though the NAV is only around 96p. Election results are on Thursday so perhaps there is a post-election boom in the offing. If the NAV can go back to 105p this is one of the best plays around.
The NAV has fallen about 7% in a month
Hopefully things will get better after the election, but it’s disappointing at the moment