# The India Fund, Inc. (NYSE: IFN)
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Daily Data

At close Apr 23, 2014

Market Price$22.13
Unadjusted NAV**$25.03

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.


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In our view, this optimism has been premature, given the uncertainty over party manifestos, election results, the strengths of any likely coalitions and the macroeconomic implications.

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2014: An important year for Asia’s four largest economies

Following the rough ride of 2013, we believe four of Asia’s biggest economies now find themselves at a cross road of economic and financial reform. In our opinion, the outcome of these reforms could be critical for both the future growth path of these countries and the global economy.

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Asia-Pacific ex Japan Equities Video Update

Aberdeen's Hugh Young gives an update on the Asia-Pacific region and discusses why Aberdeen believes the positive outlook for Asia will remain intact for 2014.

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Investing in Asia Pacific

The India Fund, Inc. Fund Manager Interview

Adrian Lim, Senior Investment Manager, speaks to the current trends that are affecting the Indian market.

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India’s promise remains unchanged

We spend our lives looking at companies. Last year we saw 923 companies in Asia. Some of them come to us but the more significant activity is us visiting management in situ. In this and future monthly briefs, we aim to give a better flavour of what we are seeing, be that about companies or other aspects of investing – and which we do not cover in our routine reports.

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Postcard from India

Greetings from India! Learn about some of the factors that may potentially bolster India's economic growth and get a better understanding for why Aberdeen believes India has significant potential from an investment standpoint.


Fund Managers’ Monthly Report

February 2014

  • Indian equities rose in February in tandem with Asian regional markets, despite the pace of economic growth in the fourth quarter of 2013 slowing slightly from the previous quarter.
  • Encouragingly, in January, consumer prices softened, the trade deficit narrowed and exports rose.
  • In Fund-related news, India’s deteriorating auto sector and weakness in its currency, the rupee, hampered Bosch’s performance in its fiscal third quarter of 2014. However, the auto component maker has been expanding capacity and continues to invest for long-term growth. Furthermore, we think that auto demand could pick up on the back of a cut in excise duties, which manufacturers have decided to pass on to attract more customers.
  • Cement makers Ambuja Cements and ACC battled the same cost and competition pressures that have plagued industry peers over the past few quarters. Regardless, infrastructure development is essential to India’s progress, and we believe that this will benefit the cement sector over the longer term. Ambuja and ACC have the added advantage of an experienced parent and an imminent organizational restructure, in our view.
  • Tata Power has received approval from regulators to pass on higher fuel costs at its struggling Mundra power plant via tariff increases. Crucially, the price rise can be applied retrospectively, which we think is very good news for Tata’s bottom line, which recently has been under pressure.
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Section 16 Filings


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.

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