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The India Fund, Inc. (NYSE: IFN)
- (EDT)
- » Closed-End Fund Center
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sign up nowDaily Data
At close Jun 17, 2013
| NAV | $23.03 |
| Price | $19.58 |
| Premium/(Discount) | -14.98% |
| Unadjusted NAV** | $23.05 |
The NAV information is provided by the Fund's accounting agent. The price is as reported by the exchange on which the Fund trades. This information is unaudited and neither Aberdeen Asset Management PLC, its wholly owned subsidiaries, the Funds, nor any other person guarantees their accuracy.
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The India Fund, Inc. (NYSE: IFN)
Investment Objective
The Fund's investment objective is long-term capital appreciation, which it seeks to achieve by investing primarily in the equity securities of Indian companies.
For more detailed information on the specific risks associated with this fund, please view the Important Risk Considerations tab.
The India Fund, Inc. Fund Manager Interview
James Thom, from Aberdeen’s Asian Equity team, speaks about The India Fund, Inc. Topics include:
- Where he and the team are finding investment opportunities
- Why he believes Aberdeen’s investment process is conducive to finding good-quality companies within the country
- How policy developments have been affecting the investment landscape
- Future outlook for the region
Investing in the Asia-Pacific Region
As the West grapples with its debt issues, we believe that the structural soundness of the Asia-Pacific region will help deliver long-term opportunities for investors.
Download brochureHead of Aberdeen Asia Discusses Indian Investments
Hugh Young, head of Aberdeen Asian Equities, talks about the tremendous potential of India based on its sheer size, population dynamics, infrastructure growth and improving corporate governance standards..
Fund Managers’ Monthly Report
April 2013
- Indian equities rose in April on hopes that easing price pressures will spur policymakers to further loosen monetary policy. The central bank cut its benchmark repurchase rate by 25 basis points to 7.25% in early May.
- The current account deficit rose to a record in the December 2012 quarter.
- The local car market contracted for the year to date in March as high borrowing costs and fuel prices dampened demand. Manufacturers responded by cutting production and tapping the export market.
- In Fund-related news, Anglo-Dutch company Unilever made an offer to increase its stake in Fund holding Hindustan Unilever to 75% in a deal worth US$5.4 billion. Separately, the local subsidiary reported solid fullyear sales and profits. Healthy domestic and Indonesian revenues bolstered Godrej Consumer Products’ final quarter, while robust loan growth boosted ICICI Bank and HDFC Bank. Tata Consultancy Services’ full-year net earnings grew 34%, whereas Infosys reported a more modest expansion of 8% as it continued to restructure its business to regain growth momentum. Meanwhile, the economic slowdown affected March quarter-end sales for Hero MotoCorp and UltraTech Cement.
- In April, we continued to build our position in cement maker ACC.
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Disclaimer
Pursuant to valuation policies adopted by the Board of Directors of the Fund, the Fund values foreign equity securities that primarily trade in certain markets that close ahead of the Fund’s daily 4:00 pm Eastern net asset value (“NAV”) calculation time at their fair values using prices provided by third-party independent pricing services. The fair value of each such security generally is calculated by applying a valuation factor provided by the independent pricing service to the last sales price for that security, or, if, the pricing service is unable to provide a fair value for a security, at the price at the close of the exchange on which it is principally traded, subject to adjustment by the Fund’s Pricing Committee. These daily fair valuations seek to reflect information available after the local market close that may affect the value of the foreign equity securities held by the Fund. As a result, this official NAV calculation reflects adjustments that may cause it to vary from a calculation based solely on closing prices. In contrast, the “Unadjusted NAV” of the Fund (shown above) is for informational purposes only and is computed using the closing prices on the relevant exchange. It does not reflect any daily fair valuation adjustments of the Fund’s foreign securities. The Unadjusted NAV does not represent the official NAV of the Fund, nor is the Unadjusted NAV used for Fund accounting or performance purposes. Investors should not rely upon the Unadjusted NAV when making their investment decisions.