London roadshows prove investor interest
Greece is now putting out a strong signal on the radars of major investors, which is probably the country’s biggest recent achievement, proving that foreign portfolios view Greek assets as serious investments.
This was the main conclusion to be drawn from the roadshows conducted in London this week focusing on Greece’s four systemic banks and certain other major listed companies in the country. Some of the world’s top institutional investors attended the roadshows, having skipped them in previous years when events dedicated to Greece were only attended by hedge funds.
Sources told Kathimerini that the Greek Banks Mini-Conference by Autonomous Research on Thursday and the Greek 1×1 Conference by Goldman Sachs on Friday showed Greece is no more an “emerging” market for foreign institutional investors, with local stocks (mainly banks) increasingly coming into the focus of the global investor community.
Kathimerini understands that the participation of quality investors is related to two developments: the significant narrowing of bond yield spreads, and the fact that investors have stopped seeing Greece as high-risk country; instead it is viewed as on the road to normality.