Property, stocks anchor FMH

13

FIRST Mutual Holdings’ (FMH) assets grew by 21 percent during the nine months to September 30, 2021, driven by gains from investments in stocks and property.

It comes as high inflation in Zimbabwe over the past few years has driven investors to value preserving asset classes, particularly stocks.
In a trading update, FMH last week said its assets grew from $20 billion to 25,2 billion — in inflation adjusted terms — during the period.
“The increase was on the back of positive gains realised on listed equity investments, fair value gains on investment property and revaluation of foreign denominated assets,” the company said.