The Writing Room

We aim to keep our investors up to date with regular written pieces that discuss our portfolios and our views on the opportunity-set whilst using the exercise to clarify our thoughts.

HOODnote: India is an investment, not a trade

February 2023

2022 was a great year for India 🙂 in relative terms especially against other emerging markets. As we enter 2023, two questions dominate the thought process:

  • Will India be able to deliver on earnings expectations – running at 14-15% p.a. earnings growth for the market over the next two years?
  • Can the elevated valuations (both absolute and relative) be justified?
Read PDF

CityWire Funds Insider: The big winners and even bigger losers from a shocking 2022

Gavin Lumsden

January 2023

Gavin Lumsden examines the 2022 markets, and with tables from Numis Securities, lists India Capital Growth as a “big riser” Equity Investment Company under the Energy and Commodity section.

Read PDF

Funds Europe: Emerging markets – India the safest haven of the BRICS?

Piyasi Mitra

December 2022

Since the acronym was coined, much has changed in some of the countries that make up the ‘BRICS’.  Piyasi Mitra considers why India may be the standout.

Read PDF

CityWire Funds Insider: The global investment trusts I can’t beat

David Kempton

December 2022

In this CityWire article, experienced investor David Kempton names India Capital Growth as a long-term investment of his and praises the ability of the fund’s mid-cap focus to reap the rewards of India’s domestic economy.

Read PDF

Portfolio Adviser: India offers investors upside surprise but it does come at a premium

Cherry Reynard

November 2022

Gloomy expectations of how the country would cope with Covid and it’s aftermath have proved unwarranted.

Read PDF

Professional Wealth Management: India shines through emerging market gloom

Elliot Smither

December 2022

Elliot Smither speaks with David Cornell and examines the attractiveness of India as an independent investment, as well as an alternative to China.

Read PDF

The Sunday Times: Personal Account Column

Ian Cowie

December 2022

Ian Cowie talks about how London listed investment trusts make it convenient and cost effective to shun losers and seek winners.

Read PDF

Funds Europe: Emerging markets – India the safest haven of the BRICS?

Piyasi Mitra

December 2022

Since the acronym was coined, much has changed in some of the countries that make up the ‘BRICS’. Piyasi Mitra considers why India may be the standout.

Read PDF

A Case for India Dedicated Exposure

Tridib Pathak

November 2022

Tridib Pathak discusses how a case is building up for India as a dedicated /country specific exposure, and how India offers a larger depth and and breath of opportunities, unlike other emerging markets, making it a bottom-up stock picker’s delight.

Read PDF

Quoted Data: QD view – India, the new darling of emerging markets?

Cherry Reynard

November 2022

Cherry Reynard for Quoted Data discusses how the Indian stock market has proved an unlikely safe haven over the past three years. After an astonishing recovery in 2020 and 2021, Indian investment trusts continued their resilience in 2022, only outpaced by commodity-focused markets.

Read PDF

The Sunday Times: India gave me my first ten bagger – investors, ignore the region at your peril

Ian Cowie

October 2022

In his Personal Account column, Ian Cowie discusses the dangers of ignoring the markets in the world’s most populous democracy

Read PDF

Money Marketing: As India celebrates Diwali it offers rewards for patient investors

Jean-Baptiste Andrieux

October 2022

As India is celebrating Diwali, Money Marketing looks into the second most populous country in the world and the investment opportunities it offers.

Read PDF

CityWire: India Trusts still have questions to answer

James Carthew

October 2022

 

James Carthew writes “As China has disappointed, largely because of its zero-Covid policy, investors appear to have decided that India is the better bet.”

Read PDF

Investors’ Chronicle – Shares I love: PI Industries

Leonora Walters

September 2022

David Cornell, CIO of Ocean Dial Asset Management, explains why he invests in agrochemical company PI Industries.

 

Read PDF

Interactive Investor: I’m in danger of falling in love with my first 10-bagger

Ian Cowie

September 2022

While all eyes have been on the UK this week, new data shows India has leapfrogged Britain’s economy. Read what Ian Cowie has to say about it.

Read PDF

HOUSE OF OCEAN DIAL SERIES – HOODnote: Whilst your back was turned

August 2022

As a single country investment destination, India has “come of age”

Ocean Dial’s most recent update highlights SIX key takeaways for investors to consider and TEN reasons why India is a superior quality investment opportunity than ever before.

Read PDF

House of Ocean Dial Series – Hoodstock: Welspun India

February 2022

 

In this note, we look at Welspun India, a company that forms part of  the HOOD, (investible universe), or House of Ocean Dial. Welspun is India’s largest home textile company, exporting more than 94% of it’s products to more than 50 countries.

Read PDF

HOUSE OF OCEAN DIAL SERIES – HOODnote: Digital Adoption

Tridib Pathak

February 2022

The Transformation of India’s Public Equity Markets Through Widespread Digital Adoption.

 

In this note, Tridib Pathak examines the challenges of being an equity investor, and how important it is to use established research processes to avoid hype whilst being alert for new ‘normals’ that can change business models.

Read PDF

House of ocean dial series – hoodnote: India Budget

January 2022

India Budget – January 2022

 

In this note, we examine how the January budget indicates that India will continue on its rapid trajectory in becoming the world’s leading economy and look at the sectors which are likely to benefit.

Read PDF

Investors’ Chronicle – Shares I Love: Welspun India

Leonora Walters

January 2022

In Investors’ Chronicle, David Cornell, manager of India Capital Growth Fund (IGC), explains why he invests in Welspun India , the largest home textile company in that country.

Read PDF

Disclaimer

IT IS IMPORTANT THAT YOU READ THE CONTENTS OF THIS NOTICE CAREFULLY BEFORE ACCESSING THIS WEBSITE. THIS NOTICE GOVERNS YOUR ACCESS TO AND USE OF THE WEBSITE. BY ACCESSING THE WEBSITE YOU AGREE TO ACCEPT THE TERMS OF THIS NOTICE AND THE FOLLOWING TERMS OF USE. IF YOU DO NOT AGREE TO ABIDE BY THESE, YOU MUST STOP USING THIS WEBSITE IMMEDIATELY.

This website is provided by Ocean Dial Asset Management Limited, whose Registered Office is at 13/14 Buckingham Street, London WC2N 6DF and Registered Number 05583807. Ocean Dial Asset Management Limited is authorised and regulated by the Financial Conduct Authority (“the FCA”), with registered number 447424.

NOT FOR U.S. PERSONS
The information contained herein does not constitute a distribution, an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction in which such distribution or offer is not authorised. In particular, the information herein is not for distribution and does not constitute an offer to sell or the solicitation of any offer to buy any securities in the United States of America or to or for the benefit of any U.S. Person as such term is defined under the United States Securities Act of 1933, as amended.

No investments or services mentioned on this website are directed at U.S. Persons who are not Professional Clients or Eligible Counterparties as defined by the UK Financial Conduct Authority (FCA) Handbook or Qualified Purchasers as defined under the Investment Company Act of 1940. The information contained herein does not constitute a distribution, an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction in which such distribution or offer is not authorised.

THIS WEBSITE IS ONLY MADE AVAILABLE TO PROFESSIONAL CLIENTS AND ELIGIBLE INVESTORS AND COUNTERPARTIES.

ODAM does not manage money for retail clients. Eligible investors only may access ODAM’s expertise through the funds or investment companies for which it acts as investment manager.

This website is not directed at you if Ocean Dial Asset Management Limited (“ODAM”) is prohibited by any law of any jurisdiction from making the information on this site available to you, and is not intended for any use which would be contrary to local law or regulation. This website and its contents are not intended to sell services or products over the Internet, rather for Internet viewer convenience and information purposes.

Information displayed in this website contains material that may be interpreted by the relevant authorities in the country from where you are viewing the website as investment advertising or an offer to purchase securities. Accordingly the information on this website is only intended to be viewed by the persons who fall outside the scope of any law that seeks to regulate investment advertising in the country of your residence or in the country in which the website is being viewed. Users of this website are therefore assumed to have the knowledge and experience in business and financial matters to enable them to evaluate the merits of, and risks of, investing in the investment funds referred to in this website. Persons of any other description should not enter this website nor rely on any of the information contained therein. If you are uncertain about your position under the laws of the country in which the website is being viewed then you should seek clarification by obtaining legal advice from a lawyer practising in the country of your residence or in the country in which the website is being viewed before completing this question.

Risk warnings

Investments may fall as well as rise and investors may lose a substantial portion or even all of their investment. Past performance is not necessarily a guide to future performance.

Investments denominated in foreign currencies can result in the risk of loss from currency movements as well as movements in the value, price or income derived from the investments themselves.

Investment in emerging markets involves risks which may not be typically associated with investing in more developed markets. Investment in small- and mid-cap stocks may also involve a higher degree of risk as these markets tend to be more volatile than their larger capitalisation counterparts.

Disclaimer

To the extent permitted by relevant law and regulation, ODAM expressly disclaims any and all liability which may derive from this website or any other information provided by ODAM in connection with this website, and any errors therein or omissions therefrom. The description of the investment management services and processes provided by ODAM in this website is written in general terms. The services and investment funds referred to in this website should not be regarded as an offer nor solicitation for such services or investment funds in any jurisdiction where such offer or solicitation is unlawful. The terms and conditions applicable to individual investors investing in investment funds managed by ODAM are set out in each relevant fund’s offering document. This website contains information designed only to provide background material for determining whether or not to consider investment. This website should be read in conjunction with the relevant offering document for each fund. All potential investors must carefully read the offering document which will contain significant additional information needed to evaluate investment in the fund and important disclosures regarding risks, fees and expenses. The offering document is the sole document upon which potential investors should rely. Recipients in any doubt about the content of this website should seek advice from an independent professional adviser.

This website is based upon information that is considered to be reliable but ODAM does not represent or warrant that it is accurate or complete, nor should it be relied upon as such. Views and opinions expressed within this website including comments on sectors or individual stocks or companies are those of ODAM and its Mumbai based affiliated company Ocean Dial Asset Management India Private Limited (a company incorporated in the Republic of India) as at the date of publication. Subsequent events may cause these views to change. The investment policies and procedures described are guidelines and not rules. Occasional deviation from the parameters given may result.

Use of links
The ODAM website may contain links to websites operated by other parties. ODAM does not control the content or accuracy of information on such websites and does not in any way confirm or endorse the material placed on such sites. The links are provided for your reference only.

Copyright
The copyright and all other rights in all of the material on this website are owned by the company listed on the web page or the material is included with the permission of the rights owner. You may review and copy material on this website for your own private or domestic use only. All other copying or use is prohibited.

Governing law
You agree that in the event of any dispute of any nature that may arise between you and ODAM, these terms and conditions shall be governed by and construed exclusively in accordance with the law of England and Wales and you agree to be subject to the exclusive jurisdiction of the courts of England and Wales.

Privacy policy
Any personal information that you supply ODAM via the website and other means will be held in accordance with the General Data Protection Regulation – please see our privacy notice for more details . If you would like to be removed from our database at any point, please email your request to enquiries@oceandial.com

Use of cookies
For the purposes of gathering data to measure traffic and patterns of usage on our website, we need to use your IP-address. In addition, for example, we use cookies to ascertain as to whether you have agreed to our disclaimer.
A cookie is a small file held on your PC. If you do not want to accept cookies, you will need to alter the setting on your internet browser. We will not use your IP-address or any cookie to identify you personally.