Recently, a mix of trends has pushed more Nigerians to the equity space. For example, T-bills earn around 1.5% per annum in the face of inflation headlines that play around 14%!!!

A Contrarian Market
In September, when stocks were falling globally, the Nigerian stock market was contrarian—it kept its bullish run. And of course, this had a positive impact on its equity funds.

The Nigerian stock market experienced a circuit breaker, for the first time, this month

YTD Returns of Some Funds
From the plethora of equity funds—which had negative returns earlier this year—here are a few and their YTD returns:

1. United Capital Equity Fund- 23.42%
2. Afrinvest Equity Fund- 8.38%
3. Meristem Equity Fund- 8.49%

I have the full report here if you want to dig in.

What do you think is happening in this market, and do you think it is sustainable?