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The Company currently conducts its affairs so that securities issued by New India Investment Trust PLC can be recommended by financial advisers to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream pooled investment products (NMPIs) and intends to continue to do so for the foreseeable future.
The Company’s securities are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are securities in an investment trust.
The Alternative Investment Fund Manager Directive (“AIFMD”) requires Aberdeen Fund Managers Limited, as the alternative investment fund manager of New India Investment Trust PLC, to make available to investors certain information prior to such investors’ investment in the Company.
The AIFMD is intended to offer increased protection to investors in investment products that do not fall under the existing European Union regime for regulation of investment products known as “UCITS”.
At close 29-Jan-2015Ord
Source: Morningstar, NAV = Net Asset Value, excluding income.
The value of investments and the income from them may go down as well as up and investors may get back less than the amount invested. The tax benefits relating to ISA investments may not be maintained. Please refer to the Key Facts documents contained in the ISA/Share Plan Brochure & Application form for general and specific investment risks attaching to the individual trusts.Read the detailed Risk Warning
Past performance is not a guide to future results.
See latest monthly factsheet below for performance history.
Holdings are subject to change at any time. Holdings should not be relied upon in making investment decisions and should not be construed as research or investment advice regarding specific securities. By accessing the portfolio holdings, you agree not to reproduce, distribute or disseminate the portfolio holdings, in whole or in part.
Bow Bells House,
1 Bread Street,
Registered in England and Wales as an Investment Company Number 2902424
To achieve long-term capital appreciation by investing in companies which are incorporated in India or which derive significant revenue or profit from India, with dividend yield from the company being of secondary importance. This emphasis on long-term capital appreciation will be demonstrated by benchmarking the Company’s net asset performance against the Morgan Stanley Capital International India Index (in Sterling terms).
In this webcast Adrian Lim gives an update on a range of subjects including performance, sector breakdown, political environment, twenty largest investments and an outlook for the Trust.
Indian equities followed regional peers lower in December, as sliding oil prices and a downbeat Chinese economy weighed on sentiment. The Cabinet approved temporary legislation to hike foreign direct investment in the insurance sector from 26% to 49%; amend the land acquisition act to make it easier for companies to buy land; and extend the ruling on allocating coal mining licences. Parliament will vote to formalise the bills in February.
There were no major portfolio changes in December.
In positive news for ITC, the proposal to ban sales of loose cigarettes has been put on hold. Separately, the company plans to spend 90 billion rupees over the next few years expanding its hotel portfolio.
Tata Consultancy Services downgraded its earnings expectations on the back of tough conditions, particularly in Europe and the energy sector. Its retail and insurance markets were also sluggish, while currency headwinds would further hurt revenues.
Infosys’ co-founders sold US$1 billion in stock – close to 2.8% of the company - to institutional investors, capitalising on the share price’s rally to an all-time high.
Ultratech Cement will acquire Jaiprakash Associates’ cement assets in Madhya Pradesh for US$850 million. The company remains focused on domestic expansion and is reportedly re-evaluating its decision to purchase Holcim’s assets in Brazil, where it does not see as much value.
After almost a year of stellar growth, Indian equities have endured a bout of volatility recently, on the back of mounting global jitters over the plummeting oil price and a wobbly China. That aside, Modi could hardly have asked for a more optimistic start to the new year. Investors may lament oil’s downward spiral, but it is an economic blessing for India, helping to take the pressure off both inflation and the current account deficit. This should, in turn, provide the impetus the Reserve Bank needs to deliver a growth-boosting cut in interest rates. It is a crucial year for the government. It must now reward the population’s unbridled enthusiasm with critical structural reforms to maintain the post-election momentum. Its lack of a majority in the upper house could prove a thorn in its side. However, Modi’s latest spate of business-friendly policies, ushered in via the side door, is encouraging and seems to signal his determination to do whatever needs to be done.
Source: Monthly Factsheet Aberdeen Asset Managers Limited