Comments on: Results of the India Fund Repurchase Offer

By: Sidd

Sidd — Mon, 08 Mar 2010 20:37:30 +0000

Yes I still own IFN but I generally am adding to my position not selling. The fund currently trades at a discount of 4.2% – http://www.blackstone.com/cps/rde/xchg/bxcom/hs/businesses_aam_cama_closedend_india.htm
but counting the 2% repurchase fee and whatever your broker charges (Scottrade charges $25), it might not be worth it. Also the spread narrows as the day approaches. So if you want to sell, there might not be much difference between open market and the repurchase offer.

By: Asad Subedar

Asad Subedar — Mon, 08 Mar 2010 19:17:37 +0000

Hello Sidd,

It has been some time. If you are still holding IFN have you made a decision on the current repurchase offer? Just curious to know if the spread between the NAV and stock price will be enough to cover the 2% repurchase fee. Happy trading!

Thanks,
Asad Subedar

By: Asad Subedar

Asad Subedar — Wed, 03 Oct 2007 19:02:17 +0000

Hello Sidd,

Just wanted to mention that Ameritrade deposited the money late Friday evening so it seems they were 2 trading days behind Scottrade. This is unfortunate since I would have liked to repurchase the shares before the upwards movement. But it seems I have the same strategy as you, wait until it dips below $50. I remember earlier this year my limit was sub $40 and it was difficult not to pull the trigger beforehand. Happy trading!

Thanks,
Asad Subedar
Univ. of Florida

By: Sidd

Sidd — Thu, 27 Sep 2007 15:49:03 +0000

Asad,

The money was deposited a few minutes ago. (about 11am today)

Siddharth

By: Sidd

Sidd — Wed, 26 Sep 2007 17:39:55 +0000

Dave, You are confusing Indexes (Indices?) with Index Funds. S&P 500 is an index while SPY, VFINX etc. are Index Funds that are based on the S&P 500. India has Indices too. Nifty and Sensex. If you are investing from the US, INP is as close to an Indian Index fund as you can get. INP is not really a fund but it tracks the top 68 stocks on the National Stock Exchange in India including dividends.

By: Dave Nofmeister

Dave Nofmeister — Wed, 26 Sep 2007 17:10:45 +0000

I know this is a bit off of topic, but does India have any good index funds? For example, the American S&P 500 has been a big index fund for some time.

Thanks!

By: Asad Subedar

Asad Subedar — Tue, 25 Sep 2007 14:51:25 +0000

Hello again Sidd,

Since you utilize Scottrade and I utilize TD Ameritrade could you please let me know when the deposit is made by them. I am curious to see if they are both different since Scottrade allowed the repurchase decision to be made until Friday while TD Ameritrade wanted it to be done by Tuesday.

Thanks,
Asad Subedar
Univ. of Florida

By: Sidd

Sidd — Mon, 24 Sep 2007 18:21:26 +0000

Ben, I have edited and approved this comment but will not approve your next one because you are spamming my blog with ads for yourself. I know what asset allocation is and I periodically post my current and target asset allocations.

By: Ben Lawler

Ben Lawler — Mon, 24 Sep 2007 18:13:09 +0000

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If you are one of the many Americans who believe your best investment strategy is to buy low and sell high, you may want to explore the merits of asset allocation. Studies of some of America’s major pension funds have shown that an asset allocation policy is the major determinant of portfolio performance.

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By: Sidd

Sidd — Mon, 24 Sep 2007 18:04:59 +0000

Yes that is correct. The $ price was 1.64% less than the price in Rs. The page takes the current price of TTM compares that with the current price in India at the current exchange rate.

Yes Scottrade accepts decisions upto 10am on the day of the expiry of the offer.