Jun
15

Any Greece Outcome Is Buy Signal for These Europe Fund Managers

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Some of Europe’s strategists and largest investors are recommending loading up on the region’s equities once the Greek impasse ends — no matter what the outcome.

The Euro Stoxx 50 Index has dropped to a four-month low, a gauge of volatility is near an all-time high versus that of the U.S., and officials are raising the prospect that Greece will leave the currency bloc. None of that is bad news to Pictet Asset Management’s Luca Paolini and AXA Investment Managers’ Gilles Guibout, who see a buying opportunity.

“We are pretty much waiting for almost any outcome to buy,” said Paolini, chief strategist at Pictet, which manages about $460 billion. “If there is a Grexit or a default, there will be a final selloff, which will be a good entry point for us. The fundamentals of QE and earnings growth would then reassert themselves.”…

Any Greece Outcome Is Buy Signal for These Europe Fund Managers

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