New India Investment Trust PLC
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Investor Warning

Please be aware of scams that can affect investors.

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NMPI Status

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.

 

Pre-investment Disclosure Document (PIDD)

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”.

Read the PIDD for New India InvestmentTrust

 
 

Morningstar Ratings

Fund Rating

5 Star Rating
 
 

Daily Data

At close 27-Nov-2014

Ord
Price327.00p
NAV350.31p
Prem/-Disc-6.65%


Source: Morningstar, NAV = Net Asset Value, excluding income.

 
 
 

Risk Warning

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

Past performance is not a guide to future results.
See latest monthly factsheet below for performance history.

 
 
 
 

Trust Details

New India Investment Trust PLC

Registered Office:
Bow Bells House,
1 Bread Street,
London
EC4M 9HH

Registered in England and Wales as an Investment Company Number 2902424

 

New India Investment Trust PLC

Objective

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).

 
 
 

India: Modi on Standby

Monthly commentary
 
 
 

New India Investment Trust PLC Annual Report for Year Ended 31 March 2014
Adrian Lim, Senior Investment Manager

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.

Click here to listen to the presentation.

 
 

 

Manager's Monthly Report

October 2014

Market Review

After a slow start, Indian equities finished October at record highs. Sentiment was buoyed by the BJP’s victories in two significant state elections, which consolidated its power and provided momentum to reforms.

The government hiked gas prices and eliminated diesel subsidies, helped by soft oil prices. This should boost the nation’s coffers given energy subsidies account for about half of the fiscal deficit.

Meanwhile, in response to the Supreme Court’s cancellation of coal-mining licenses, the private sector was granted approval to participate in the re-auction of coal blocks, which they could eventually mine commercially. Auction proceeds would go to the states where the mines are located, which should encourage local government support.

Portfolio review

There were no major portfolio changes in October.

Our bank holdings reported largely positive results. HDFC was lifted by robust loan growth, higher margins and stable asset quality, while its associate HDFC Bank also performed well. Similarly, ICICI Bank’s margins were healthy, while retail loans in its mortgage and auto divisions grew rapidly. However, it faced some pressure from subdued corporate loans andhigher credit costs.

Infosys reported better-than-anticipated margins on improved sales and higher employee utilisation. However, TCS’s earnings missed expectations, which could make achieving its ambitious full-year growth target a challenge. TCS also announced it would merge with its majority-owned subsidiary CMC via a share swap.

Elsewhere, Hero MotoCorp enjoyed solid sales growth amid signs it is winning back market share from competitors, while Ultratech Cement benefited from recovering domestic demand. However, its share price faltered on speculation it might be interested in assets sold off as part of the Holcim-Lafarge merger. Meanwhile, Hindustan Unilever faced pressure from waning sales and raw material costs; however, lower promotional expenses helped support margins.

Outlook

Winning two pivotal state elections is likely to provide the boost the BJP needs to press ahead with touchy reforms. Quick-fire announcements on gas prices, diesel subsidies and coal block reallocations should support equities and pacify naysayers. However, it is imperative that Modi capitalises on his popular appeal and the opposition’s current accommodative spirit in the Upper House: any sense that momentum on reforms is slipping would exasperate investors.


Source: Monthly Factsheet Aberdeen Asset Managers Limited