The stock selection of BMCE Capital Global Research (BKGR) closed the month of March posting an underperformance, since the beginning of the year (year to date YTD), of 1.50%, against -3, 07% for its Masi RB benchmark.
“Despite a bearish market orientation, BKGR’s portfolio closed the month of March with a YTD underperformance limited to 1.50%, thus demonstrating better resilience than its benchmark, the MASI RB (- 3.07%)”, indicates BKGR in its recent publication “Strategy – March 2023”.
In terms of valuation, the selection of BKGR stocks trades at 15.5x (compared to 15.6x for the MASI) its forecast earnings in 2023 and posts a dividend yield (yield) of 3.3% (compared to 4% for the MASI ), specifies the same source.
Since their introduction into the portfolio, the securities posting the largest losses are Taqa Morocco (-12.6%), Sothema (-7%), Label Vie (-6.5%) and Mutandis (-3.2%) .
Conversely, and in a strongly bearish market, 25% of the stock selection managed to end the month with positive performances, namely Sonasid (+7.7%), CDM (+5.8%), Akdital ( +4%) and Attijariwafa Bank (+1.1%).