The Afrinvest Equity Fund sustained its performance in May, recording a 5.7 per cent gain for the month, outperforming the broader Nigerian equities market. This strong showing has boosted the fund’s year-to-date return to 14.4 per cent, up from 8.2 per cent in April.
According to its mutual funds fact sheet released recently, the Nigerian Stock Exchange’s All-Share Index also maintained its bullish momentum in May, rising 5.6 per cent month-on-month. Investor confidence was driven by a steady flow of first-quarter earnings releases and attractive dividend payments amid easing inflationary pressures.
A notable highlight in the market was Airtel Africa’s outstanding performance, which contributed roughly N1.09tn to market capitalisation in a single day.
This helped push the overall market capitalisation beyond the N70.5 tn mark.
Afrinvest Asset Management, the fund manager, attributed the AEF’s performance to selective investments in sectors demonstrating resilience and growth potential. The fund has capitalised on opportunities presented by key market drivers, including telecommunications and consumer goods.
With a minimum investment threshold of N50,000 and a management fee of 1.5 per cent per annum, the Afrinvest Equity Fund remains a preferred option for investors seeking exposure to Nigerian equities with a high-risk profile.
Market analysts believe that with the Nigerian economy showing signs of recovery and inflation moderating, equity funds like Afrinvest’s are well-positioned to deliver robust returns in the coming months.
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