Genghis Cross-Asset Weekly Strategy - 29th June 2020
Our Momentum, Income and Value equities portfolios continue to outperform the benchmark NSE 20 index. Performance of the Momentum and Income portfolios was ahead of all the benchmark indices including the Nairobi All Share Index (NASI) and Zamara Index.
Genghis Trading Ideas for the week…
Equities
- BUY KENGEN at sub 5 price levels
WAt the tail end of appointment of Auditor General (currently at Parliamentary vetting), we expect this to unlock the much delayed FY19 expected DPS of KES 0.40. Additionally and bar uncertainty under the pandemic, there is possibility of higher dividend in FY20 from the KES 1.9Bn tax credit related to commissioning of Olkaria V power plant in 1H20.
Fixed Income
- SELL FXD4/2019/10 between 12.00% - 12.10% levels
We expect renewed interest on this paper following its re-opening mid-this month. The interest will be buoyed by position trades as we cross over into the third quarter.
- STOP LOSS on GOLD hit, waiting for another entry signal
We had anticipated a potential gold short trade, on the daily time frame with a take profit of USD 1,668 and a stop-loss at USD 1,765. Given the STOP LOSS price was triggered we will wait for another entry signal.
Genghis Capital is an innovative and customer focused Investment Bank licensed by the Capital Markets Authority (CMA). Founded in 2008, Genghis is one of the leading investment banks in Kenya. Since its establishment, Genghis has achieved tremendous growth to offer a well-diversified portfolio of financial services that includes:
- i. Securities(Equity/Debt) Trading
- ii. Research
- iii. Wealth Management services
- iv. Investment Advisory & Management via the GenCap Unit Trusts
- v. Corporate Finance & Transaction Advisory services
The Kenyan Capital Markets continue to develop in size, scope and sophistication. With this is an increasing demand for more specialized and personalized brokerage service and we at Genghis Capital are glad to be able to offer you this service. Our strength lies in ensuring our clients are up to speed with developments at the stock market and the economy. Research and technology remains our competitive and comparative advantage hence Experience, Expertise and Professionalism are some of the qualities you can expect from our team.
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