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Forex scarcity, repatriation uncertainties depress investments in Q1 Analysts
On
ECONOMY
Investment analysts have blamed foreign exchange (forex) scarcity and concerns around the possibility of ease of repatriating funds out of the country as cause of the dwindling Foreign Portfolio Investment (FPI) in the stock market.
They stated that investors are wary of investing in climes where forex prices are managed and not market reflective.
Foreign Portfolio Investment (FPI) in the Nigerian Exchange Limited (NGX) had continued a downward streak, according to the data on Domestic and Foreign Portfolio Participation in Equity Trading for March 2021, falling by 40.4 percent to N150.23 billion in the first quarter (Q1) 2021, from N251.87 billion in Q1 2020.
By Nkiruka Nnorom ECONOMY Investment analysts have blamed foreign exchange (forex) scarcity and concerns around the possibility of ease of repatriating funds out of the country as cause of the dwindling Foreign Portfolio Investment (FPI) in the stock market. They stated that investors are wary of investing in climes where forex prices are managed and not market reflective. Foreign Portfolio Investment (FPI) in the Nigerian Exchange Limited (NGX) had continued a downward streak, according to the data on Domestic and Foreign Portfolio Participation in Equity Trading for March 2021, falling by 40.4 percent to N150.23 billion in the first quarter (Q1) 2021, from N251.87 billion in Q1 2020.
BNP Paribas beats expectations for Q1 as equity trading rebounds yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
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BNP Paribas Asset Management appointed
Sandro Pierri as Deputy CEO, with effect from 1 January 2021. This is in addition to his role as Head of BNPP AM’s Global Client Group, which he has held since 2017. Pierri is based in London and reports to Frédéric Janbon, CEO of BNPP AM. Pierri has more than 30 years’ experience in the asset management industry. He began his career in 1989 as a portfolio manager with San Paolo Fondi, moving to BNL Gestioni in 1992, before joining ING Investment Management in Italy in 1994, where he held several commercial roles. Between 2002 and 2003 he was Chief Executive of ING Group’s Italian retail business. Following the acquisition by UniCredit/Pioneer of ING’s Italian business, he joined Pioneer Investments, UniCredit’s asset management division, in 2004. He spent 10 years in various commercial and managerial positions, including being appointed CEO in 2012.