Bellevue Asset Management AG: Africa investments: Solid fundamentals contrast with low stock valuations
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Tuesday, November 29, 2022
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In Morocco, some companies in the consumers or healthcare complex were outright bullish, expecting double-digits earnings growth this year and beyond.
Key Points:
- In Morocco, some companies in the consumers or healthcare complex were outright bullish, expecting double-digits earnings growth this year and beyond.
- Despite all these issues, the bank grew its earnings by 11% every year between 2011 and 2021 in USD terms.
- A low valuation, earnings resilience and attractive growth outlook are part of the recipe for a re-rating in African equities.
- Bellevue Funds (Lux) SICAV is registered in the CNMV registry of foreign collective investment schemes distributed in Spain, under registration number 938.