Financials at 32.9% make up the largest sector weight of GREK’s underlying portfolio. GREK also includes a 14.0% position in Alpha Bank and 5.1% in Eurobank Ergasias SA.
Greek markets remain depressed as the country tries to secure a third bailout deal, initially due by December, reports Deborah Hyde for Bloomberg. The talks could contribute to increased volatility ahead.
RBS analysts argue that a “Brexit” vote, weaker regional growth and political uncertainty could cause voters to focus on other risks like Greece if debt spreads come under stress again.
Citigroup also warned of potential higher bond spreads among peripherals in the coming months, which could trigger another so-called debt crisis in Greece.
Global X FTSE Greece 20 ETF