Allan Gray, the South Africa-based asset manager, is urging investors to consider Nigerian stocks rather than South Korean equities, citing diversification benefits. The firm manages about $29 billion in assets and frames the move as a way to balance portfolios that have become concentrated amid broad market enthusiasm linked to artificial intelligence.
Outlets describing the view largely agree on the rationale: Nigerian equities are presented as an alternative exposure that is less directly tied to the same AI-driven sentiment seen in major markets across Wall Street and parts of Asia. Bloomberg and South Africa’s Moneyweb and News24 each attribute the recommendation to Allan Gray’s investment stance and emphasize the diversification angle.
While the reporting focuses on the comparative choice between Nigeria and South Korea, details on specific stocks, timing, or potential risks are not provided in the excerpts. The emphasis is on portfolio construction—seeking different regional drivers rather than following the same momentum dominating broader equity indices.
