Genghis Weekly Strategy - 2nd December 2019
Our Momentum, Income and Value equities portfolios continue to outperform the benchmark index, NSE 20 YTD. Notably, the Momentum portfolio YTD performance is ahead of all the benchmark indices including the Zamara Index.
Genghis Trading Ideas for the week…
Equities
- For investors seeking to diversify their holding in income generating counters, we recommend BUY on Barclays Bank of Kenya (BBK) at the current dividend yield of 8.8%. BBK has the highest dividend yield in the banking sector with the current dividend yield on the bank being in the range of the yield on risk free short-term treasury bonds. The current market price offers an attractive entry point for investors who wish to hold the stock in the long run.
Fixed Income
- BUY IFB1/2019/16 at 11.80% - 11.90%. We remain bullish on the longer dated infrastructure bonds, in particular the October issued paper. Its attractiveness is supported by its tax-free appeal coupled by its current discount price. We thus expect the Secondary market to be biased towards the on-the-run infrastructure bond as they weigh the newly offered five-year primary bond.
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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