In an interview with Bloomberg, Vetiva capital announced that it was cutting expectations of a recovery for this year.
Aug 26 (Lagos) - In an interview with Bloomberg, Vetiva capital management ltd said that it was cutting expectations of a second half recovery this year. Fixed income (bonds) is expected to remain a more attractive investment. They previously expected a 12% return in the second half led by banks, now that has been cut to a flat return.
They still hold a "buy" rating on Flour Mills of Nigeria Plc and Oando Plc. Vetiva’s coverage was the most accurate on nine of the 20 Nigerian stocks it analyzed in team research in the past year, according to data compiled by Bloomberg.
reporting for easykobo.com on Friday, August 26 2011 from Lagos, Nigeria.
Source - as reported by Bloomberg news.
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