AIICO BALANCED FUND NEWSLETTER – AUGUST 2023
OVERVIEW AIICO Balanced Fund is an open-ended mutual fund, investing in Fixed income instruments, Money market instruments and both Quoted and Unquoted equities. INVESTMENT OBJECTIVE The investment objective of the Fund is to create medium to long term…
FINANCIAL MARKETS WEEKLY – 01 September 2023
FIXED INCOME MARKETS Money Markets Inflows from FAAC credit boosted system liquidity by 226.00% from its negative territory last week Friday to ₦353.60 billion long. Consequently, the Open Repo Rate (OPR) and Overnight Rate (O/N) declined drastically…
FINANCIAL MARKETS TODAY –29 August 2023
FIXED INCOME MARKETS Money Market Opening system liquidity improved to ₦339.72 billion, compared with -₦260.79 billion, recorded yesterday, bolstered by FAAC credits. As a result, the Open Repo Rate (OPR) fell by 2067bps to 2.50%, while the Overnight…
FINANCIAL MARKETS WEEKLY – 25 August 2023
FIXED INCOME MARKETS Money Markets Given the drought in major inflows, opening system liquidity slid to a negative territory at ₦280.63 billion short, from ₦215.74 billion last week Friday. Consequently, the Open Repo Rate (OPR) and Overnight Rate (O/N)…
Q2 2023 GDP Highlights
NIGERIA’S GDP GREW BY 2.51% IN Q2’2023 Nigeria’s Q2’23 Gross Domestic Product (GDP) grew by 2.51% Y-o-Y, lower than the 2.80% estimate. Although, the growth rate was lower than 3.54% in Q2’22 but higher than 2.31% in Q1’23. In real terms,…
FINANCIAL MARKETS WEEKLY – 18 August 2023
FIXED INCOME MARKETS Money Markets After which system liquidity opened at ₦215.74 billion this week, the bond auction settlement mopped up system liquidity to ₦33.55 billion. However, liquidity improved to levels around ₦170 billion towards the end of…
FINANCIAL MARKETS TODAY –17 August 2023
FIXED INCOME MARKETS Money Markets Opening system liquidity improved to ₦177.47 billion long, compared to ₦33.55 billion recorded yesterday. Nonetheless, the Open Repo Rate (OPR) and the Overnight Rate (O/N) increased by 236bps and 176bps to 21.42% and…
INFLATION WATCH – July 2023
Inflation Watch – Headline and Core (modified) Inflation at 24.08% y/y and 20.47% y/y Nigeria’s inflation for July jumped to 24.08% y/y, from 22.79% y/y in June 2023, accruing 1.29% y/y between June and July (Bloomberg Est. 23.60%). The headline…
FINANCIAL MARKETS TODAY –16 August 2023
FIXED INCOME MARKETS Money Markets Opening system liquidity decreased to ₦33.55 billion long, compared to ₦191.21 billion recorded yesterday, due to the FGN bond auction settlement that took place today. Consequently, the Open Repo Rate (OPR) and the…
FINANCIAL MARKETS TODAY –15 August 2023
FIXED INCOME MARKETS Money Markets Opening system liquidity decreased to ₦193.20 billion long, depicting 35.23% compared to the value recorded yesterday. Consequently, the Open Repo Rate (OPR) and the Overnight Rate (O/N) increased by 230bps and 160bps…
