While equity investors all over the world panicked on Monday after Greece failed to secure a debt relief program from its creditors over the weekend, causing global markets to tumble, fund managers are staying calm and others even see an opportunity from the crisis.
Take, for instance, Europe’s leading fund manager, Amundi Asset Management.
According to Reuters, Amundi is sticking to its investment portfolio as the Greek crisis unfolds, and is betting that riskier assets such as stocks would stay attractive.
“It was important to stay calm … we thought on Sunday it was not appropriate to change the portfolios for the moment,” Reuters quoted Amundi’s chief investment officer Pascal Blanque as saying in an interview with the news wire agency.
“We maintain a stance where we are reasonably constructive in the risky assets space.”
Amundi is not alone.
According to the Financial Times, fund managers are seeing a buying opportunity from the Greek crisis. European stocks, which fell after reports that Greece failed to secure the support of its credits, are expected to benefit over the long-term from the stimulus measures being undertaken in the euro zone.
As one wise man once said, in every crisis, there is always an opportunity. Or something like that.
Photo by Greek National Team (Official) on Instagram