16th Mar 2016 10:46
LONDON (Alliance News) - India Capital Growth Fund Ltd on Wednesday said its net asset value performance just outstripped its benchmark in 2015.
The fund, which invests in Indian equities, said its net asset value per share at the close of 2015 was 80.64 pence, up 8.6% on the 74.26p net asset value at the end of 2014.
This growth compares to 7.7% growth for its notional benchmark, the BSE Mid Cap Index.
The fund said the Indian rupee was relatively stable during the year and the country held up well compared to the tough conditions which gripped all emerging markets.
India Capital Growth will continue to focus on companies with high-quality management teams and strong cash generation, it said, and said the case for investing in India remains strong.
Shares in India Capital Growth were untraded on Wednesday, having last traded at 57.12p.
By Sam Unsted; [email protected]; @SamUAtAlliance
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