Tag Archives: portfolio

NSE Shares Portfolio August 2017

Compared to six months ago

Comparing performance since February, this portfolio is down 3% mainly due to shares sales, while the while the NSE 20 share index is up 41% from February 2017.

The Stable

 

 

 

 

Atlas —

Bralirwa (Rwanda) ↓

Centum ↑

CIC Insurance ↑

Diamond Trust ↑

KCB ↑

Kenya Airways ↓

NIC ↑

NSE ↑

Stanbic (Uganda) ↑

Unga ↑

Summary:

  • In: None
  • Out: TPS EA (Serena), Fahari I-Reit (Stanlib)
  • Increase: None
  • Decrease: None
  • Best performer: CIC Insurance (up 95% since February) , NSE 84%, Diamond Trust up 77%.
  • Worst performer(s): Bralirwa down -3%, KQ -1%
  • There’s been a surprising resurgence in shares that’s been very quiet, amid the expected decline and investor exists with the August 8 election.
  • Kenya Airways restructuring deal has not yet hit the share price but will dilute shareholders by 95%
  • The surprising Safaricom sale with Vodacom buying out Vodafone
  • Banks are struggling, despite their rising share prices.
  • Disappointment with East Africa: The Vodacom Tanzania IPO stalled until it was opened to foreigners, and it crossed the finish line at with a full subscription after PIC of South Africa made a huge investment to bridge the gap. The Vodacom IPO was not marketed to Kenyans or through local stockbrokers. That said, it has been a struggle holding shares in different East African countries after the welcoming IPO period has passed, with difficulties collecting dividends or selling shares to get money back.

Other portfolio updates from three years and five years ago.

NSE Shares Portfolio February 2017

Comparing performance to a year ago, this portfolio is down 50% mainly due to shares sales, while the while the NSE 20 share index is down 28% from February 2016.

The Stable

Atlas ↓
Bralirwa (Rwanda) ↓
Centum ↓
CIC Insurance ↓
Diamond Trust ↓
KCB ↓
Fahari  REIT↓
Kenya Airways ↑
NIC ↓
NSE ↓
Stanbic (Uganda) ↓
TPSEA ↓
Unga ↓

  • In: None
  • Out: Barclays, Equity, Kenol.
  • Increase: None
  • Decrease: Diamond Trust.
  • Best performer: Kenya Airways (up 12% from a year ago)
  • Worst performer(s): NIC, CIC, Diamond Trust, NSE (all down ~45% from a year ago)

Summary:

  • Another quarter when everything in the portfolio is down. Sold lots of shares after the banking law change.
  • Unexpected Events: (1) The Nairobi Securities Exchange (NSE) was assessed as the  worst- performing stock market so far in in 2017 so far according to Bloomberg – down 7% since January 1. While many believe it is due to the upcoming Kenya election, Bloomberg analysts trace the NSE portfolio decline to the devaluation of Egypt’s currency by 48% In November 2016,  which resulted in some frontier market investors blocks switching over from Nairobi to Cairo.
  • Still unable to sell portfolio shares in Rwanda (Bralirwa) and Uganda (Stanbic)  – those markets are easy to enter, but harder to exit.
  • Looking Forward to: (1) Bank results in February 2017 (2)  launch of the long-promised and always-postponed M-Akiba bond – a mobile money treasury bond.