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 24-Jul-2015

Ord
Price338.63p
NAV363.84p
Prem/-Disc-6.93%


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

Investor warning: Please be aware of scams that can affect investors. Read the full warning here.

 

Past Performance

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

 
 
 
 

Portfolio Holdings Disclaimer

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.

 
 

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).

 
 
 

New India Investment Trust PLC Annual Report for Year Ended 31 March 15
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

June 2015

Market Review

Indian equities finished flat in June in local currency terms, as investor sentiment fluctuated on the back of Greece’s deepening fiscal quandary and fears that US interest rates could move higher as soon as September.

The Reserve Bank of India (RBI) cut interest rates again; however, markets were disappointed by indications of a subsequent pause in the easing cycle. Economic news was relatively upbeat, with growth topping expectations at 7.5% in the March quarter, while the current account deficit narrowed substantially.

Encouragingly, the RBI proposed new rules allowing Indian banks to take over indebted companies by converting debt into equity if attempts to revive them failed. This should help clean-up the balance sheets of state-owned banks in particular.

Portfolio review

There were no major portfolio changes in June. Nestlé India’s alleged breach of food safety standards in its popular Maggi Noodles made headlines. Nestlé has denied claims that the noodles contain elevated levels of lead and monosodium glutamate (MSG) and took the regulator to court following an order to recall all Maggi products. The Maggi brand has been significantly damaged by these allegations. However, the company is continuing exports, while reassessing its domestic position.

The sale of Bharti Airtel’s tower assets in Tanzania and Chad was called off after a contract was not finalised before the pre-set deadline. The sale was part of an approximately US$400 million deal to dispose of assets in four African countries, and its termination further delays Bharti’s efforts to strengthen a balance sheet laden with debt, most of which related to its loss-making African operations.

Outlook

Indian equities have endured a marked increase in volatility recently and, given the lack of immediate catalysts, could stay range-bound in the short-term. Prime minister Modi has made considerable policy headway during his tenure, passing close to 50 bills. However, many investors remain frustrated at the glacial progress of pivotal reforms around land acquisitions and a unified goods and services tax. Economic signals remain mixed. Recent data on growth and industrial production have been encouraging; however, exports appear particularly subdued, while inflation is at risk from fluctuating oil prices and a poor monsoon. Meanwhile, companies are deferring investment plans and struggling to lift earnings amid lacklustre demand. This means, following last year’s euphoric rally, many valuations are hovering above reasonable levels. That said, these same businesses are well positioned to benefit in the event of a demand recovery. In that case, earnings could pick up swiftly, and perhaps drive a welcome re-rating of stocks.


Source: Monthly Factsheet Aberdeen Asset Managers Limited