Slightly less than half of Europe’s fund buyers plan to increase their exposure to European equities in the next 12 months, down from a record high of 67% in March. European stocks are still the most sought after asset class by a long shot, with more than twice as many buyers than Asian equities, the second most popular equity category.
The fund selector mood does not seem to be affected too much by the chaos in Greece, as their macroeconomic outlook remains rosy, with 67% having a positive attitude.
Grexit fears have led to a correction in European equity markets, but most fund selectors seem to believe this is just a temporary setback. And anecdotal evidence seems to underpin this, as most fund selectors who have recently reduced their European equity exposure describe this as a tactical, not a strategic move.