Advisers: Greece will still be in the Euro in 12 months
Despite the continued uncertainty surrounding Greece, over 50 per cent of advisers believe the country will still be in the Euro in 12 months time according to a poll carried out by Cofunds.
The question, “Will Greece still be in the euro in 12 months time” was put to over 100 advisers at the Cofunds Economic Forum by Chris Rice, Head of Pan European Equities at Cazenove Capital. Fifty three per cent of the audience said they believed the country would still be a part of the euro in 12 months. However, 43 per cent disagreed and said this would not be the case. Only 10 per cent of advisers said they were unsure of the outcome.
In addition, Rice asked advisers at the forum if they intended to increase or decrease their exposure to European equities over the next 12 months. Thirty-six per cent of advisers said they would be looking to increase their exposure, while 11 per cent said they would be looking to decrease it. The majority (55 per cent) said their exposure would remain unchanged.
Commenting on the results, Cofunds Head of Commercial, Russell Lancaster, who chaired the forum said: “The European Smaller Companies sector saw minor outflows of 0.48 per cent in February, while the Europe excluding UK sector attracted 2.39 per cent of net inflows during the same month. This is compared to January this year, when the European Smaller Companies sector saw outflows of 0.94 per cent and the Europe excluding UK sector saw outflows of 12.28 per cent. Whether this is the start of a wholesale change in attitude towards Europe, we’ll have to wait and see.”