Full steam ahead
”‹With last year’s successful subscription share exercise (discussed in QuotedData’s last note) pushing India Capital Growth (IGC)’s net assets through the £100m mark; strong performance relative to peers; and buoyant conditions in India, IGC’s focus is now on driving down the discount that its shares trade at relative to its net asset value. Recent poll success by India’s ruling political party, the BJP, has put a stamp of approval on its ambitious reform agenda. IGC’s manager believes that there may be a temporary dip in growth as the Goods and Services Tax (GST) is introduced this summer, but thinks this should have long-term positive effects. IGC’s discount remains wide relative to its peers (see page 14) yet India remains one of the fastest-growing major economies in the world and the manager has set out to position IGC to take advantage of this.
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