According to survey by Bank of America Meryl Lynch (BAML) most of the fund managers are not under impression that Greece might have to leave Euro zone.
- The survey which takes into account more than 200 fund managers, show that 42%, still thinks that there will be positive resolution to Greek crisis. However that is not so unnatural, given European leaders' past history of clinching last minute deals.
- More than 40% of the respondents think some sort of default is possible but no Greek exit from Euro zone.
- Less than 15% of the fund managers think there exists possibility of Grexit.
Fund managers are heavily under-protected against Greek severity, so fallout and reaction could be pretty devastating if Greece choose the exit rout.
However, there are signs that fund managers are getting overall anxious about movements in equity markets. 54% of the respondents think that Federal Reserve will hike rates in September. Number of fund managers taking protection against sharp fall in Equity market has reached almost 30%, highest since 2008.


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