Caution over Southern Europe

For the last few years, Joseph Kelly, a certified financial planner, has kept most of his client’s money far away from Southern Europe.

It was simply too risky a region, according to Kelly of VALIC Financial Advisors, Bedminster, N.J. Six months ago, though, he had a change of heart.  “People have given up on the region, but things are starting to move now,” he said. And it seems like a lot of people share Kelly’s view.

After years of seeing outflows from Southern European funds, investors are starting to come back. According to EPFR Global, a firm the tracks worldwide fund flows, $13.4 billion has poured into funds focused on Portugal, Italy, Greece and Spain—also known as the PIGS—since January.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.