In the month of March, our portfolio improved 1.5% M/M and was up 2.5% YTD on the back of an uptick in Safaricom, EABL and NSE. With its detrimental performance in FY20, after announcement of a KES 9.1B loss and an expectation of a rise in staff costs on account of the current restructure program, we have dropped Britam in our quarterly review and instead absorbed Jubilee Holdings to our portfolio.

On a relative basis our portfolio has continued to perform better than the NSE-20 YTD while lagging the NASI.