CEO's baseline scenario is muted economic growth with muddled policy response
Neptune's Rob Burnett has built up a 10% cash weighting in his European Opportunities fund and is continuing to position defensively in response to the region's recent economic concerns.
German Chancellor Angela Merkel has pledged to "stand helpfully by Greece's side" but her economy minister said Germany would not offer a cash bailout.
UK investors bought a fifth of the €5bn 10-year bonds sold by Greece yesterday.
The Euro regained some lost ground today as Greece went to market with a successful sale of 10-year bonds.
Eurozone interest rates have been held at 1% today for the tenth month in a row.
The euro has risen against the dollar this morning after the Greek government unveiled 4.8bn euros worth of austerity measures.
There is momentum gathering behind the argument that Europe is the sick man of the World.
Aegon manager warns of possible knock-on effect from struggling European countries
Duo take steps to reverse position taken in January