GSE Equities: Selectivity Over Beta in the Second Half
After a broad recovery, we think GSE returns through the second half of 2026 will be driven by company fundamentals — earnings quality and dividend cover — rather than index-level momentum.
The GSE Composite Index has retraced much of its earlier weakness, but a closer look shows the move has been narrow. A handful of large-cap financials and telecoms have done the heavy lifting while the broader market has lagged.
Why selectivity matters now
When an index rallies on a few names, buying the index buys the crowding. We prefer to underwrite individual businesses — looking at earnings quality, dividend cover and balance-sheet resilience — rather than chase the tape.
Where we look
Companies with pricing power and hard-currency revenue lines screen best against a still-volatile cedi. We remain cautious on highly leveraged names exposed to short-term funding costs.
Apply this to your portfolio
Speak to a Union Capital advisor about what it means for you.