A sweeping majority of fund managers polled by Portfolio.hu expect the BUX index to hover in a 5% +/- range in the next three months, but they are clearly bullish on a 12-month horizon, the results of the survey showed. When it came to naming top picks, all components of the BUX index received a mention, except for Econet.
The contributors to the poll were: Adelphi Capital, AXA Fund Management, Berenberg, Budapest Fund Management, CIB Fund Management, Concorde Fund Management, Credit Suisse Asset Management, East Capital, Erste Fund Management, Generali Fund Management, GE Money, IEB Fund Management, ING Fund Management, K&H, MKB Fund Management, OTP Fund Management, Pioneer Investments, Quaestor, Raiffeisen Fund Management, Raiffeisen Capital Management, Trigon Capital
A record number of fund managers (20) took part in the poll, with 65% of them projecting +/-5% shift in the BUX index from the 29,100-point reference value in the next three months. At the same time, the shaky environment has already prompted one of the respondents to forecast a 15% plus fall on the Hungarian stock market.
Compared to their own benchmark, 61% of the respondents give market weight to Hungarian stocks, while the ratio of overweights has practically halved from a month ago. The number of underweights has risen moderately.
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