There's a lot of doom and gloom out there in equity markets, but where it isn't is India. A major global economy, India has delivered some excellent returns to investors in 2H 2022, at a time when other big Asian markets have struggled. Business confidence is high, and stock valuations remain elevated.
This particular investment trust accesses mid and small cap opportunities in India. We should mention that this means liquidity is limited with the fund manager determining redemption opportunities (usually at the end of the year), and usually with a discount to NAV. You pay a price to get out.
But performance speaks for itself: we're currently looking at an NAV total annualised return of +30.26%, and +27.53% over three years. Factor in Covid disruption, and the trust is still on positive ground over the five year timeframe at +6.27%. Based on these figures, we are adding it to our long term growth portfolio as of 27 June.
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