July 14, 2020/Coronation Report
As we have pointed out for months, no Federal Government of Nigeria T-bill or bond currently yields more than inflation. Yet, surprisingly, for the most of the past 10 years, 2010-2019, Nigerian portfolio managers were able to obtain returns above inflation simply by investing in T-bills.
That era appears to be over, so what do portfolio managers do now? The first thing, we believe, is to set benchmarks as preparation for taking investment risk, and these benchmarks are set out in today’s landmark publication, available on our website: Navigating the Capital Market: The Investors’ Dilemma.