Greece will still be in the Euro in 12 months – Cofunds poll
Despite the continued uncertainty surrounding Greece, over half of advisers polled at an Economic Forum run in the UK by independent investment platform Cofunds believe the country will still be in the Euro in 12 months time.
The question “Will Greece still be in the euro in 12 months’ time” was put to more than 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% said this would not be the case. Only 10% of advisers said they were unsure of the outcome.
In addition, Rice asked advisers 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% said they would be looking to decrease it. The majority (55 per cent) said their exposure would remain unchanged.
Cofunds’ head of commercial, Russell Lancaster, who chaired the Forum, said: “The European Smaller Companies sector saw minor outflows of 0.48% in February, while the Europe excluding UK sector attracted 2.39% 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%and the Europe excluding UK sector saw outflows of 12.2%. Whether this is the start of a wholesale change in attitude towards Europe, we’ll have to wait and see.”