Equity
Portfolio.hu Fund Manager Survey: Autumn rally ahead on the Budapest Stock Exchange?
Is it time to buy?.
Summing up the fund managers projections we can state that chances for an autumn rally on Budapest's virtual floor are rather high. About half of the respondents expect levels of 24,000-25,000 points will be reached in three months, a forecast they previously hoped to become a reality only in a 12-month horizon. It is OTP that provides the engine for the fund managers' optimism. The country's leading bank is their top pick, followed by the stocks of drugs producers.
On the forex market substantial shifts in either direction would embezzle fund managers. Portfolio.hu's survey goes back until March 2005 but the fund managers have never been this secure about seeing EUR/HUF changes in a +/- 2% range (270-280); over 80% of the respondents voted for a shift this small.
The contributors were:
Aegon Asset Manager, Berenberg, Capitalinvest, CA IB Fund Manager, CIB Fund Manager, Concorde Fund Manager, Credit Suisse Asset Management, Erste Fund Manager, GE Consumer Finance, Generali Asset Manager, IEB Fund Manager, ING Fund Manager, K&H Fund Manager, Metzler Investment, OTP Fund Manager, Raiffeisen Fund Manager, Winterthur Insurer
