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7 Jan 2025 09:44
07 January 2025
India Capital Growth Fund Limited (the "Company" or "ICGF")
Net Asset Value statement at 31 December 2024
The Company announces its Net Asset Value ("NAV") per ordinary share as at 31 December 2024 was 209.01 pence.
In December, the NAV was down 1.33% in Sterling terms, whilst the BSE MidCap TR Index was up 0.81%, delivering an underperformance against the notional benchmark of 2.14%. In local currency terms, the NAV was down 1.33%.
The Company also announces its Net Asset Value per ordinary share before Indian CGT (deferred tax provision) as at 31 December 2024 was 222.26 pence.
Portfolio analysis by sector as at 31 December 2024 | ||
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Sector | No. of Companies | % of Portfolio |
Financial Banks | 5 | 15.2% |
Industrials | 5 | 12.7% |
Consumer Discretionary | 5 | 12.6% |
Auto & Auto Ancillary | 4 | 9.7% |
Consumer Staples | 4 | 9.2% |
Healthcare | 2 | 6.7% |
Digital | 2 | 5.3% |
Textiles | 2 | 4.9% |
Chemicals | 2 | 4.8% |
IT Services | 1 | 4.4% |
Cement | 2 | 4.3% |
Financial Services | 1 | 3.9% |
Financial NBFC | 1 | 1.0% |
Energy | 0 | 0.0% |
Metals | 0 | 0.0% |
Utilities | 0 | 0.0% |
Real Estate | 0 | 0.0% |
Total Equity Investment | 36 | 94.8% |
Cash & cash equivalents | 5.2% | |
Total Portfolio | 36 | 100.0% |
Top 20 holdings as at 31 December 2024 | ||
Holding | Sector | % of Portfolio |
Skipper | Industrials | 5.5% |
Federal Bank | Financial Banks | 5.5% |
Dixon Technologies | Consumer Discretionary | 5.1% |
Neuland Laboratories | Healthcare | 4.8% |
Persistent Systems | IT Services | 4.4% |
Multi Commodity Exchange | Financial Services | 3.9% |
Ramkrishna Forgings | Auto & Auto Ancillary | 3.7% |
Emami | Consumer Staples | 3.5% |
Affle India | Digital | 3.4% |
PI Industries | Chemicals | 3.0% |
IDFC Bank | Financial Banks | 2.8% |
Sona BLW Precision Forgings | Auto & Auto Ancillary | 2.8% |
VIP Industries | Consumer Discretionary | 2.7% |
CCL Products India | Consumer Staples | 2.6% |
Gokaldas Exports | Textiles | 2.6% |
RBL Bank | Financial Banks | 2.5% |
JK Lakshmi Cement | Cement | 2.5% |
City Union Bank | Financial Banks | 2.4% |
Welspun India | Textiles | 2.3% |
PSP Projects | Industrials | 2.2% |
Portfolio analysis by market capitalisation size as at 31 December 2024 | ||
Market capitalisation size | No. of Companies | % of Portfolio |
Small Cap (M/Cap < US$2bn) | 19 | 43.6% |
Mid Cap (US$2bn < M/Cap < US$8bn) | 13 | 38.8% |
Large Cap (M/Cap > US$8bn) | 4 | 12.5% |
Total Equity Investment | 36 | 94.8% |
Net Cash | 5.2% | |
Total Portfolio | 36 | 100.0% |
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