Slightly less than half of Europe’s fund buyers plan to increase their exposure to European equities in the next 12 months, down from a record high of 67% in March. European stocks are still the most sought after asset class by a long shot, with more than twice as many buyers than Asian equities, the second most popular equity category.
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The fund selector mood does not seem to be affected too much by the chaos in Greece, as their macroeconomic outlook remains rosy, with 67% having a positive attitude.
Grexit fears have led to a correction in European equity markets, but most fund selectors seem to believe this is just a temporary setback. And anecdotal evidence seems to underpin this, as most fund selectors who have recently reduced their European equity exposure describe this as a tactical, not a strategic move.