Big Capital Starts Small

‎One interesting lesson from the strong performance of some NGX stocks this year is that the percentage return is only one part of the wealth-creation story. The size of the capital base matters too. ‎ ‎Consider Aradel Holdings, HBM Nigeria, MTN Nigeria, First HoldCo and NGX Group. Their reported YTD price returns are 127.9%, 148.3%, 57.5%, 192.3% and 98.3% respectively. An equal-weighted portfolio of the five gives a blended YTD price return of about 124.9%, excluding dividends, fees and... Read more

  Economy   Aug 18, 2026   0   2  Add to Reading List
Big Capital Starts Small


















‎One interesting lesson from the strong performance of some NGX stocks this year is that the percentage return is only one part of the wealth-creation story. The size of the capital base matters too.
‎
‎Consider Aradel Holdings, HBM Nigeria, MTN Nigeria, First HoldCo and NGX Group. Their reported YTD price returns are 127.9%, 148.3%, 57.5%, 192.3% and 98.3% respectively. An equal-weighted portfolio of the five gives a blended YTD price return of about 124.9%, excluding dividends, fees and...

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