India Capital Growth Fund
Overview-
India Capital Growth Fund, an investment trust listed on the London Stock Exchange is a permanent capital vehicle whose shares have been trading at a discount to its net asset value for much of its listed history. The Fund predominantly invests in listed small and medium cap Indian companies; typically, the portfolio consists of 30-40 stocks. Investments may also be made in large cap Indian companies where the fund advisor believes long-term capital appreciation will be achieved. Since the current investment team of Ocean Dial Asset Management took over the management in January 2010, they have brought about a structural improvement in the Fund’s net asset value (NAV) performance leading to an impressive five-year track record.
Additionally, on 7th August, 2014, with the share price trading at 50p, the Fund issued 35.5 million subscription shares to existing shareholders at zero cost issued on a 1:2 basis. On 7th August, 2016 these subscription shares were fully exercised at a strike price of 61p, providing the Fund with additional capital of GBP 22.9 million .
Investment Strategy+
Fund Managers+