The India Fund (IFN) for the Long Haul

Aug.28.06 | About: India Fund (IFN)

Buying 1,000 shares of IFN at ~$40.00. This relates to my investment thesis presented here.

I like the long term prospects of this fund, which is a closed-end fund managed by the Blackstone group. Blackstone is one of the pre-eminent global private equity shops. While they are most recognized as a buy-out firm, I believe they are well qualified to run a public market fund as well.

The three year performance of this fund has been stellar. The fund has made 8X returns in the chart below. If you sold out at $60 before global marktes took a breather, you would have made over 10X.

Another reason I like this fund at this point is because the shares are only trading at 9.6% premium to net asset value ("NAV"). I have been tracking this fund for awhile, and because of the stellar performance and reptuation of the fund management, this fund regularly trades at 15-20% premium to it’s asset values (or the value of all it’s security holdings).