A large hedge fund would like to have other stocks in Greece to buy them.

April 1, 2019

A large hedge fund would like to have other stocks in Greece to buy them.

Amber Capital is so aggressive in placements in Greece that it only wants more shares to buy.

“I am extremely optimistic about the Greek economy,” said Joseph Oughourlian, who founded this $ 1.8 billion asset management company in 2005. “It has all the catalysts in the opposite direction from many other countries – not only in Europe but also in the rest of the world. Populism has subsided, has the economy at a very, very strong level, has very strong fundamental elements. ”

Oughourlian is among the investors who bet that the Greek state that became synonymous with the euro debt crisis is now at the center of an explosive recovery after years of recession, austerity and telegraph with the European Union. The benchmark for Greece’s shares roses by 16% in 2019, marking the best start of the year for two decades and overtaking the gain of European stocks by 12%. Last year, Greece recorded the strongest economic growth after 2007 and the expectation is rising as the most market-friendly opposition is likely to replace Syriza populist even in May.

For Oughourlian, the problem is that since escaping Greek banks, there are not many home games left. It made purchases with the OTE telecommunications company (3.4% last year), the Ellaktor construction group (1.6%) and the Athens Stock Exchange (12%).

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