Nigeria Emerge As Key Focus for London Hedge Fund Broad Reach’ in Frontier Market Expansion”


Broad Reach Investment Management, a London-based emerging-markets macro hedge fund, is making waves by directing its cash allocation for frontier markets towards recovery opportunities in Nigeria, alongside Egypt and Pakistan.

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Bradley Wickens, founder, chief investment officer, and CEO of the $1.5 billion hedge fund, sees Nigeria as a key component of its new investment strategy.

Wickens is betting on the country’s potential for recovery, driven by devaluations, interest-rate hikes, and external loans, which he believes will curb currency volatility.

This strategic shift comes after Broad Reach achieved a 14% return last year through successful long-short positions in credit and rates across emerging markets.

In the first quarter of this year, the fund has already seen a 12% increase.

Wickens is optimistic about the two-year opportunity in Nigeria, projecting nominal appreciation alongside coupon returns of up to 28%.

He anticipates that support from the International Monetary Fund (IMF) will strengthen the Nigerian currency and attract additional investment flows.

Currently, Broad Reach has allocated 30% of its frontier market investment to Nigerian credit, highlighting the country’s significance in its portfolio.

Wickens believes that despite the potential for greater volatility and less liquidity compared to other markets like Egypt, Nigeria presents an attractive trade opportunity.

Broad Reach’s focus on Nigerian recovery underscores its commitment to exploring emerging market opportunities where fewer hedge funds operate, demonstrating the fund’s confidence in Nigeria’s economic prospects amidst global market volatility.

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Godwin Okafor
Godwin Okafor
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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