Ashoka India Equity underperforms benchmark amid global volatility
Ashoka India Equity Investment Trust PLC on Thursday said its interim return underperformed its benchmark, but expressed optimism around navigating ‘evolving market conditions’.
The trust invests primarily in India-listed securities and quoted companies with a significant presence in India.
Ashoka India Equity Investment reported a net asset value total return of minus 3.1% per share for the six months ended December 31, underperforming its benchmark, the MSCI India Investable Market Index, which returned minus 2.3% over the same period.
The company’s net asset value per share fell 3.3% to 269.6 pence at December 31, from 278.9p at June 30.
Detractors for the period included fashion retailer, Trent, which Ashoka noted ‘has seen deteriorating same store sales growth momentum in recent quarters, driven by a slowdown in discretionary consumption as well as sharp increase in competitive intensity.’
Computer Age Management Services also underperformed, said the investment trust, noting that the revenue yield compression in recent quarters has been higher than expected by the market.
Info Edge was also cited as a detractor, as the stock underperformed amid ‘uncertainty around FY26 IT billing growth, given the softer demand outlook for IT services.’
Shares in the investment trust were down marginally at 249.75 pence around midday on Thursday in London.
‘The period under review saw volatility across the globe, with emerging markets, including India, influenced by continued geopolitical tensions, shifts in global monetary policy, currency movements and broader macroeconomic uncertainty,’ said Chair Andrew Watkins.
‘The structural opportunities presented by India’s economic growth, expanding domestic consumption and adoption of the latest technology remain firmly intact. Within this context, the company is well positioned to navigate evolving market conditions and, as ever, your board has the utmost confidence in the investment manager and adviser to capitalise on opportunities that meet our rigorous investment criteria and are most likely to deliver long-term outperformance,’ Watkins continued.
Copyright 2026 Alliance News Ltd. All Rights Reserved.