External broker reports(aggregated public sources), CardinalStone

CardinalStone

CardinalStone is an independent, multi-asset investment management firm offering an assortment of financial services to a diverse institutional, high net worth and retail clientele base. The company began operations in June 2008 and its business is conducted across six divisions – Investment Banking, Asset Management, Securities Trading, Trust Services, Registrar Services and Financing.

Headquartered in Lagos with offices in Abuja, Nigeria, the firm and its licensed subsidiaries diligently works with its clients to create bespoke solutions for their needs.

External broker reports(aggregated public sources)

CardinalStone is an independent, multi-asset investment management firm offering an assortment of financial services to a diverse institutional, high net worth and retail clientele base. The company began operations in June 2008 and its business is conducted across six divisions – Investment Banking, Asset Management, Securities Trading, Trust Services, Registrar Services and Financing. Headquartered in Lagos with offices in Abuja, Nigeria, the firm and its licensed subsidiaries diligently works with its clients to create bespoke solutions for their needs.

Thematic (Sector/Industry)

Nigeria Financials / Thematic (Sector/Industry)

<ul><li>Last week, the NGX closed lower, with the ASI losing 0.14% WoW, while the MEP lost 0.03%, outperforming by 11bps.</li><li>Year-to-date, the MEP has gained 3.11%, outpacing the ASI’s 2.51% return by 60bps.</li><li>The MEP’s outperformance was largely attributed to the absence of FIRSTHOLDCO (-7.64% WoW) and UCAP (-7.88% WoW), alongside an underweight position in FCMB (-6.70% WoW).</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Last week, the NGX closed lower, with the ASI losing 0.14% WoW, while the MEP lost 0.03%, outperforming by 11bps.Year-to-date, the MEP has gained 3.11%, outpacing the ASI’s 2.51% return by 60bps.The MEP’s outperformance was largely attributed to the absence of FIRSTHOLDCO (-7.64% WoW) and UCAP (-7.88% WoW), alongside an underweight position in FCMB (-6.70% WoW).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

CardinalStone Research - Model Equity Portfolio - 07 March 2025