There's not much cheer atm. The FTSE is down around 4% from its high point in January. The gbp has strengthened against to the dollar to $1.42 which has negated increases in gold and silver and the NAV for IGC has fallen to 118p.
This looks like a buying opportunity but the market has the feel of the "falling knife" so I will wait a while longer.
Tipped on this site by fund managers 21/09/17, and fancied by Marksman looking for a place to put cash.
I saw a lunch date of 22 DEC 15 , so bit odd to find this link may 2006 ?
Guernsey registered... 1.79% annual charge, i can not see extra performance charge ?
Discount 8.16% . 12 mth average 18.23%.
Year high 105p low 69.5p
I feel maybe this time it is a little bit different in that the fund size is such that it is perhaps taken a little bit more seriously and the a share price over £1. I hope the discount (and I accept a discount) will find a new range of -5% to -12% and am hoping we may still find a little bit more in the share price yet.
Well someone is buying this investment trust heavily as the SP has been on a tear. The discount is now down to 10%. If it keeps narrowing I may start to sell some as historically it ebbs and flows between 10 and 20%.
Having held my first shares for nearly 10 years and I'm back in profit on those today! Wow......perhaps it will keep moving up with share price now above £1, India doing well, a big discount to perhaps reduce further.....I do hope so......anyone else watching......
I should say I have held these in 2 tranches as lower posts show (should bought in 2007) I was underwater on early purchases but was tempted back in a year ago and my comments are on the recent performance and not the long term performance now blaming myself for my previous poor timing! Hopefully, the discount should now start to unwind in our favour. Anyway we will see
Everyone has been championing India and I like it but I particularly like this given the exposure to SME sector, discount and recent track record. It seems to sit nicely under the radar but has performed well for me. Others may want a look....
Well the Indian stock market has dropped back a fair bit last week or so and so has IGC,however it has gone up a lot this year but I am expecting it to move forward again shortly and IGC with it as Indian growth progresses. Lets see
Yes, the SP climbs daily yet the underlying progress of NAV is slower. I can see the discount moving to 10% maybe - possibly even a premium. Either way, unless sentiment on the underlying market changes it looks very positive.
Welcome aboard-discount should keep narrowing-I am suprised that I have not seen India mentioned anywhere despite the market roaring away and me pointing this out for quite a while now-lets hope it continues.
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