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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| India Capital Growth Fund Limited | IGC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.00 | 0.55% | 183.00 | 16:35:11 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 180.50 | 180.50 | 183.00 | 183.00 | 182.00 |
| Industry Sector |
|---|
| EQUITY INVESTMENT INSTRUMENTS |
| Top Posts |
|---|
Posted at 27/6/2024 08:33 by hydrogen1 Smashed the all time high again in India - the discount embedded here is widening.BSEN up 8.6% in 6months IGC up 8.2% in 6 months Over 1 year BSEN up 24% IGC up 31% Some catching up to do in the small cap space... |
Posted at 06/5/2024 09:57 by bigboyblue This is copied from the ANII board, posted a couple of weeks ago:Citywire today: 23 Apr, 2024 Martin Gilbert-linked India trust seeks Abrdn fund merger India Capital Growth, whose Ocean Dial fund manager is part of Aberdeen Asset Management founder Martin Gilbert’s new group, has made merger approaches to Abrdn New India. Abrdn New India (ANII) is under pressure to become the fifth Abrdn trust to merge in the past 13 months as rivals circle the serial underperformer. India Capital Growth (IGC), a £159m better-performing mid-cap fund, is understood to have made several approaches to Abrdn New India this year about combining with the £439m listed large-cap fund. A source with knowledge of the situation said that JP Morgan, whose £814m Indian (JII) investment trust is the sector’s largest but worst-performing fund, had also shown interest in a combination with New India, which marks its 20th anniversary this year. However, New India may also be looking at a merger with another JPM trust. New India, chaired by Michael Hughes, the former Barclays Capital and BZW stockbroker, has not responded to Elisabeth Scott (pictured above), the chair of India Capital Growth. It is said to prefer a merger with stablemate Abrdn Asia Focus (AAS), a £486m smaller companies fund run by Hugh Young until last year. If it were to happen, a merger with India Capital Growth would put the assets of New India back within the fold of Martin Gilbert, the co-founder of Aberdeen Asset Management in 1982 who established the company as a leading investment trust provider and oversaw the launch of the single country fund in 2004. Since stepping down as chief executive of Aberdeen following its 2017 merger with Standard Life, Gilbert (pictured below) has led fund management consolidator AssetCo (ASTO). Last year it bought India Capital Growth’s investment adviser Ocean Dial Asset Management, putting it within the River and Mercantile business that Gilbert bought in 2022, which has recently rebranded as River Global. Abrdn declined to comment specifically on New India but said: ‘In these volatile markets with a dearth of IPO activity, it is no surprise to see approaches across the investment company sector. Boards are often approached informally but we can’t comment on individual trusts and indeed the variability of market performance often means that any such thoughts quickly change.’ Corporate activity between investment companies has shot up in the past 18 months as boards respond to shareholder dissatisfaction at a sector-wide de-rating that has seen shares in many listed funds trade well below asset value. India trusts In the India sector, IGC stands on an 11% discount and ANII and JII trade on discounts of 18% and 20% below net asset value. Ashoka India Equity (AIE) is the only one of the four to trade on a premium of 4% above NAV. This reflects the £357m mid-cap fund’s superior performance. Under Prashant Khemka of White Oak Capital Management, it has returned 155% to shareholders over three years, beating IGC’s 78%, although the latter’s 10-year return of 313% under Ocean Dial’s Gaurav Narain (pictured below) is the best in the sector. JII, run by JPMorgan’s Amit Mehta and Sandip Patodia following the recent move off the trust by Ayaz Ebrahim, has returned 211% over 10 years, while ANII, managed by Kristy Fong and James Thom at Abrdn, has generated 224%. Both trail the 239% of the MSCI India index. |
Posted at 20/3/2024 11:16 by disc0dave46 That's one view I guess, but definitely don't agree with it. They are investing in IGC and maximising returns, nothing wrong with that.How many companys do you hold that are buying back their own shares?, and in most cases ignoring what the actual value and internal rate of return is.IGC obviously feel that they are going to get a much greater return by buying their own shares than investing elsewhere. |
Posted at 19/3/2024 16:02 by buoycat It's explained somewhere in an rns. Every two years the company will guarantee to buy back your shares at a set redemption price. Last time it was 3% below NAV. IGC shares have always tended to trade well below NAV, so as the redemption date approaches the gap closes. Unfortunately after the redemption and with all that trading activity, with weakness in the Indian market, and election uncertainty approaching the price has subsequently quickly sagged ! |
Posted at 19/12/2023 09:21 by bigboyblue IGC used to have a discount of around 20% or even more. That was before they introduced the policy of offering to redeem shares at a specified discount, on a biannual basis. That discount was 6% in 2021 and 3% this year. I'd expect the discount to widen slightly after this year's cut off date (29th Dec) but it will gradually narrow again toward the next redemption date.Further, if you check out the NAV progress of JII and IGC over pretty much any period you choose you will soon see which has the better record. |
Posted at 18/12/2023 13:22 by arja IGc has about an 8% discount to NAV and JII has an 18% discount . Surely JII must be a better bet but I might be wrong :) |
Posted at 14/9/2023 08:30 by arja IGC chart shows that still in uptrend although consolidating in recent days but virtually a NOR situation. I only like to trade stocks or keep for a short while if NO SD stocks like this one. Not keen on a very small discount to NAV which could be dangerous if Indian indices turn down sharply as discount might then widen |
Posted at 10/9/2023 14:42 by bigboyblue It's worth checking out the two best known alternatives to IGC, JP Morgan India Investment trust and Abrdn New India. Neither has seen any increase in NAV or share price over the last 12 months. Ocean Dial seem to be doing a tremendous job here and the share price will be underpinned by the redemption facility at least for the next 3 months. |
Posted at 08/4/2022 08:53 by tomps2 Stockopedia/PIWORLD StockSlam - April 2022Lilian Nandi ‘slams’ India Capital Growth Fund (IGC) in the latest PIWORLD/Stockopedia StockSlam at 24m26s Watch the video here: www.piworld.co.uk/ed Or listen to the podcast here: hpiworld.podbean.com |
Posted at 10/12/2021 00:27 by daemonfunds For an uncritical overview of £IGC, have a gander at: hXXps://quoteddata.c |
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