Research & Publication

“Research is to see what everybody else has seen and to think what nobody else has thought”.
                                              -    Albert Szent-Gyorgyi (1937 Nobel Prize for Medicine, 1893 - 1986)

FSDH Research Team is made of experienced economists and financial market analysts who provide timely, insightful and objective analysis of global and domestic economic and financial market developments in order to discover and take advantage of investment opportunities for our clients. Our clients rely on our research insights to make informed and guided investment decisions.

FSDH Merchant Bank has invested considerable resources in gathering relevant economic and financial market data to populate a robust database from which analysis and forecasting are made, using modern analysis and forecasting techniques. Our research covers four main areas which are Economics, Industries, Equities and Fixed Income Securities.  

  •   Economic Research
FSDH Research is reputed for providing analysis on economic trends in the Nigeria and forecasting important macro-economic variables. Through our widely circulated weekly reports we review contemporary economic issues and express opinion. Other economic analysis reports which FSDH Research releases from time to time are: Monthly “Inflation Watch” report, Bi-monthly “MPC Meeting: Considerations and Policy Options”, Quarterly and Annual Economic and Financial Market Review and Outlook.

  • Industry Analysis
FSDH Research conducts industry based research aimed at identifying financing and investment opportunities.  

  • Equity Research
Our team of equity analysts adopts both quantitative and qualitative analysis to help clients decipher the stocks to overweight or underweight at any given time. They also provide insights into the operations of companies, the operating environment in which they do business and the drivers of growth. All these factors serve as inputs in arriving at the intrinsic value for stocks. Our Daily Market Report provides day-to-day performance of all the listed equities on the floors of The Nigerian Stock Exchange (NSE). Our Weekly Report reviews the performance of the market in a week and provides outlook for the following week. Our Equity Research Reports reviews in detail the operations of a companies with a view to make investment recommendation. In addition, our equity research team manages a number of equity indices which fund managers can replicate or use to benchmark their performance. The performance of these indices is reported in our daily, weekly, quarterly and annual reports.

  • Fixed Income Research
Our fixed income securities analysts provide insights into the factors driving rates and yields in the fixed income securities market and offer appropriate strategy for fixed income securities portfolio with the aim of optimizing returns. Our weekly, monthly, quarterly and annual reports on fixed income securities and other macroeconomic factors are important in deciding which direction investors in the fixed income securities market should go.

If you wish to subscribe to our insightful research reports please click here. You may also contact our economists and analysts via e-mail on