Star hedge fund manager Kyle Bass, founder of Hayman Capital Management, is actually also optimistic about the outlook for Greek stocks as well as bonds. He believes some sectors, such as bank stocks, are grossly undervalued — trading at a quarter of book value — as well as will rally next year if there is actually a political change of the guard.
Diego Ferro, co-chief investment officer of Greylock Capital Management, a $1 billion hedge fund involved in Greece’s bond restructuring, says he’s made Great returns on bond investments in Greece. although not many investors are comfortable investing in undervalued, distressed as well as high-yield assets. “People are still worried about the volatility, although the Greek economy is actually much better,” Ferro said.
The Global X MSCI Greece ETF (GREK) is actually up 32 percent inside past year, although the fund’s all 5-year return is actually still negative 9 percent, according to Morningstar data through Oct. 13. The ETF has taken in $30 million via investors This kind of year, according to XTF.com.
of which may change soon, as many investors believe a market bottom has been hit as well as the Greek economy is actually poised for an upswing. On Monday the Hellenic American Leadership Council as well as the Chicago Council on Global Affairs jointly hosted Tsipras for a program on the state of economic as well as security cooperation between Greece as well as the United States. In addition, the prime minister visited 1871, a hub for more than 400 digital start-ups of which houses accelerators, incubators, tech talent schools as well as the Illinois Science as well as Technology Coalition.
According to Endy Zemenides, executive director of HALC, numerous potential investors lined up to meet Tsipras over the weekend. They included John Calamos, founder of Calamos Investments; Richard Driehaus, founder of Driehaus Capital Management, the boutique investment adviser of which invests in frontier markets as well as manages $9 billion in assets; Alexi Giannoulias, senior director, BNY Mellon Wealth Management; as well as members of the Mirkopoulos family, owners of Toronto-based Cinespace Film Studios.