George Efstathopoulos, portfolio manager at Fidelity International, is bullish on Greek equities, citing the country’s strong economic fundamentals, attractive valuations, and favorable demographics.
In an interview with Bloomberg TV, Efstathopoulos said that he believes Greece is entering a new phase of economic growth. “The Greek economy is on a solid footing,” he said, pointing to the country’s low unemployment rate, healthy banking sector, and strong fiscal position.
Efstathopoulos is also encouraged by the Greek government’s commitment to reforms, which he believes will make the country more competitive and attractive to investors. “The government has made a lot of progress in implementing reforms,” he said, adding that he believes the country is “on the right track.”
The portfolio manager also highlighted the attractive valuations of Greek stocks. “Greek equities are trading at a discount to their peers,” he said, adding that this discount is “unjustified.”
Efstathopoulos believes that Greek stocks are poised for a period of outperformance. “We are positive on Greek equities,” he said, adding that he believes the market has the potential to deliver “significant returns” in the years to come.
