Parchayi.com – Personal Finance Simplified

A few days ago, I opened a position in INP (Barclays Bank Zero Cpn ETN(ITR) – see my previous post on INP) increasing Parchayi and my investment in India to 16% of our total investments.
A breakdown of our portfolio (including all stocks and mutual funds) shows 98% investment in stocks, 2% in bonds (via some [...]

The only auto stock I own is Nissan Motor (NSANY) and that has been relatively flat for a while and so far I have never commented on the auto industry. 2006 was a not a great year for Nissan (US sales down 5.3% compared to 2005), while both Toyota and Honda managed gains. However December [...]

India Fund Inc. premium as of Dec. 1 was only 3.69% which is extremely low for IFN especially with the strong bull market in India. The BSE is at record levels nearing 14,000 and shows no signs of stopping. Inspite of this IFN has remained steady for the last few weeks causing its premium to [...]

In a previous post, I mentioned that I did not get oversubscribed shares for the India Fund Inc. However, that is officialy wrong. The shares got deposited today! Yipee. Some more free IFN for me.

The India Fund Inc. withdrew money from my account for IFN shares assigned to me from rights. I did not get any oversubscribed shares as yet so I’m assuming I won’t get any. Overall, the rights offer wasn’t such a great deal as the fund premium dropped significantly. I sold some IFN shares to pay [...]

The India Fund Rights Offer Closed today. The offering price of the shares (95% of NAV at close on Friday) is $34.00, which would mean at a current price of around 38 represents a gain of 11%, far lower than I expected but still very decent for no effort. The Fund said shareholders subscribed to [...]

Shares from the India Fund Inc. (IFN) rights offer deposited in my Scottrade account today, one day before the close of the offer. Oversubscribed shares have not yet been deposited, so I don’t know if I will get any. I hope I do. As of last Friday, the premium on the fund was 15%. Stay [...]

Recently I read reports that PowerShares plans to introduce an India ETF in the US based on the Halter Index (HXI). However, HXI is not really an India Index. It is an index of ADR’s and companies in the US whose primary business is in India. The index consists of very few components and doesn’t [...]

I have my account at Scottrade and the India Fund Inc. (IFN) rights got deposited today (instead of last Monday). I called up Scottrade (Richmond) because rights offer subscriptions can only be done on the phone but they can’t do anything about the offer now because ‘it is not in their system yet’.
Last year, unlike [...]

The India Fund Inc. announced its rights offering on Friday. Shareholders as of 3rd of July receive 1 right per share. For every three rights you can buy one share of IFN at 95% of NAV on Aug 4. As of Friday (16th Jun), the premium on IFN was 32%. Assuming this premium stays high until Aug 4, you have a significant return for using the rights offer to buy more India Fund.