The India Fund announced the commencement of it’s semi-annual repurchase offer on Friday. The dealine to respond to the offer is 5PM Eastern on September 14. The shares will be purchased at 2% less than NAV on September 21.
On Friday, The India Fund traded at a discount of 7.3% to NAV and this is significantly less than the discount of 13% in June. However, if this discount continues at the same level the offer is still valuable as you can make 5% profits for doing nothing.
Be warned that Scottrade will charge a 25$ fee for this and you should check with your broker what they will charge. Also check the premium/discount to the NAV on Sep. 7 (the last one available prior to the deadline) before making your decision. Click here for a chart of the premium/discount history for IFN.
