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A $29 Billion Manager Tips Nigerian Stocks Over South Korea’s Kospi
Mint 1 hr ago·14 Oct 2026, 12:23 am
Allan Gray, a global asset manager with about $29 billion under management, has said it prefers Nigerian equities to South Korean ones, specifically the Kospi index. The firm sees Nigeria’s market as offering a better risk‑adjusted opportunity amid the current AI‑driven rally in many developed markets.
For investors, the comment highlights a shift toward emerging‑market exposure as a way to diversify away from sectors that are currently over‑hyped. Nigerian stocks could benefit from higher commodity prices, a young population and ongoing reforms, while South Korea remains tied to tech and AI cycles that may be more volatile.
Going forward, investors will watch Nigeria’s fiscal and monetary policy, foreign‑exchange moves and corporate earnings, as well as any change in the AI narrative that could revive interest in the Kospi. Overall market sentiment and global risk appetite will shape performance of both markets.
Excerpt from Mint
Allan Gray Ltd., which oversees $29 billion in assets, favors Nigerian stocks over South Korean equities, as they offer a diversification play from the artificial-intelligence frenzy that has swept markets from Wall Street to Asia. Allan Gray Ltd., which oversees $29 billion in assets, favors Nigerian stocks over…Read the original at Mint
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