18th Sep 2015 08:06
LONDON (Alliance News) - India-focused investment fund India Capital Growth Fund Ltd on Friday said its net asset value outperformed its benchmark in the first half of 2015 and said it is confident on the outlook for the Indian market.
The fund said its net asset value rose 4.8% on an undiluted basis in the first half to the end of June, while the share price increased 5.4%. This compares to a 1.4% growth in the BSE Mid Cap Index and 0.5% decline in the BSE Sensex index.
The fund said that amid a backdrop of expected monetary tightening in the US, the debt crisis in the Eurozone and a slowdown in China, the relative attractiveness of India has improved.
India Capital Growth shares were untraded on Friday, having last traded at 59.84 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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