MEDIA RELEASE PR35147
India Capital Fund Announces Record Investment Gains of +44.8% for May
HONG KONG, June 22 /PRNewswire-Asia-FirstCall-AsiaNet/ --
The India Capital Fund (ICF), a long-term absolute return fund, returned 44.8% in May, net of all fees, vs. a gain
of 36.5% in dollar terms for India's Sensex index. ICF has gained 61.4% YTD, vs 56.6% for the USD Sensex.
India Capital Management (ICM), sole advisor to India Capital Fund, is among the longest standing investment
managers in India. Its investors are primarily university endowments, foundations and high-net worth investors.
The ICF invests in a long-term concentrated research driven portfolio of stocks. ICM's other funds, India Capital
Opportunities 1 (ICO1) and India Institutional Fund (IIF) returned 51.6% and 69.1% respectively in May.
ICF was almost fully invested ahead of the Indian election results, announced on Saturday, May 16th, which was
followed by a 17% rise on the Indian market on Monday, May 18th in less than two minutes of trading. "Everyone
who invests in India suddenly had to get more invested," said a spokesperson for India Capital Management.
"Whatever happens next in the market, it is clear that there is for the first time in 18 years an Indian government
that wants to reform and liberalize and, now, has the ability to do it. The long-term impact will be very positive."
For further details please contact:
India Capital Management Ltd
IFS Court, 28 Cybercity, Ebene, Mauritius
Tel: +230-467-3000
Fax: +230-467-4000
Email: ifs@ifsmauritius.com or scott@indiacapmgt.com
SOURCE: India Capital Management Ltd.
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