The top five sectors in this fund are Financial Services (20.31%); Basic Materials (18.13%); Technology (16.88%); Consumer Defensive (16.67%) and Healthcare (12.77%).
The India Fund, Inc. (IFN)
From The Personal Capitalist
The India Fund, Inc. (IFN) is a closed-end equity fund managed by Aberdeen Asset Management. It seeks long-term capital appreciation, primarily investing in equity securities issued by Indian companies.
We remain bullish on India, despite the Modi govenment’s decision to replace the existing 500 rupee and 1,000 rupee notes with new notes, which has affected the stock price. However, at the end of the day, we feel emerging markets are going to be the primary source of global growth next year. India is our favorite market in Asia.
Around 7 billion of foreign money has flowed into the Indian market this year, up from 4 billion for the same period of 2015. Annual economic growth reached an annual rate of 7.5% in the first half of 2016. Demand for oil is growing faster in India than anywhere else. The country has a growing car market. India has the potential to be an economic dynamo. It is English speaking and democratic and a close friend of the U.S.
We sense that the price is very attractive compared to potential and feel this could present a great opportunity to put capital to work at these prices.
Sean Christian, The Personal Capitalist, 9524 East 81st Street, Suite B #1715, Tulsa, OK 74133, December 31, 2016