07 April 2021
India Capital Growth Fund Limited (the "Company" or "ICGF")
Net Asset Value statement at 31 March 2021
The Company announces its Net Asset Value per share as at 31 March 2021 was 108.33 pence.
In March, the Net Asset Value (NAV) was up 1.63% in Sterling terms, whilst the BSE MidCap TR Index was up 2.15%, delivering an underperformance against the notional benchmark of 0.52%. In local currency terms, the NAV was up 0.69% for the month.
Portfolio analysis by sector as at 31 March 2021 | ||
| | |
Sector | No. of Companies | % of Portfolio |
Materials | 7 | 20.1% |
Financials - Banks | 4 | 18.1% |
Consumer Staples | 4 | 12.8% |
Consumer Discretionary | 4 | 10.5% |
Industrials | 4 | 10.4% |
Health Care | 2 | 7.0% |
Information Technology | 3 | 6.8% |
Utilities | 1 | 4.8% |
Energy | 1 | 3.3% |
Financials - Diversified | 1 | 3.0% |
Financials - Insurance | 1 | 1.8% |
Real Estate | 1 | 0.1% |
Communication Services | 0 | 0.0% |
Total Equity Investment | 33 | 98.5% |
Net Cash | | 1.5% |
Total Portfolio | 33 | 100.0% |
| | |
Top 20 holdings as at 31 March 2021 | ||
| | |
Holding | Sector | % of Portfolio |
Federal Bank | Financials - Banks | 6.1% |
Emami | Consumer Staples | 5.5% |
IndusInd Bank | Financials - Banks | 5.1% |
Gujarat Gas | Utilities | 4.8% |
IDFC Bank | Financials - Banks | 4.2% |
PI Industries | Materials | 4.2% |
Neuland Laboratories | Health Care | 4.0% |
Tech Mahindra | Information Technology | 3.9% |
Kajaria Ceramics | Industrials | 3.8% |
JK Lakshmi Cement | Materials | 3.6% |
Ramkrishna Forgings | Materials | 3.3% |
Aegis Logistics | Energy | 3.3% |
Welspun India | Consumer Discretionary | 3.1% |
Divi's Laboratories | Health Care | 3.0% |
Multi Commodity Exchange | Financials - Diversified | 3.0% |
Balkrishna Industries | Consumer Discretionary | 2.8% |
Jyothy Laboratories | Consumer Staples | 2.8% |
Dixon Technologies | Consumer Discretionary | 2.7% |
Skipper | Industrials | 2.7% |
Persistent Systems | Information Technology | 2.6% |
Portfolio analysis by market capitalisation size as at 31 March 2021 | ||
Market capitalisation size | No. of Companies | % of Portfolio |
Small Cap (M/Cap < US$1bn) | 12 | 27.2% |
Mid Cap (US$1bn < M/Cap < US$7bn) | 17 | 57.5% |
Large Cap (M/Cap > US$7bn) | 4 | 13.8% |
Total Equity Investment | 33 | 98.5% |
Net Cash | | 1.5% |
Total Portfolio | 33 | 100.0% |
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