Date: 12.04.2011
Ipreo-Survey: Institutional Investors and CEESEG in 2010
The top investors in the combined free float of the member exchanges of the CEE Stock Exchange Group (CEESEG), consisting of the stock exchanges of Budapest, Ljubljana, Prague, and Vienna, remain international institutional investors; they come primarily from the UK and US, but are followed by investors based in the European countries of Austria, Germany, France and Norway. Especially US and UK-based investors with a higher exposure to Central and Eastern Europe widened their positions in the member exchanges of the CEE Stock Exchange Group as well as institutional investors with a GARP focus. After the difficult market environment over the last two years, investor appetite returned in 2010 and Ipreo found increased international demand for the companies listed on the member exchanges of CEESEG. Yet, uncertainty regarding political, currency, default and governance risks were cited as the major reasons for international investors' cautiousness in the most recent study which covered the annual ownership changes. These are the key messages of the updated study, "Institutional Ownership of the CEE Stock Exchange Group" (cut-off date: 31 December 2010), conducted on behalf of CEESEG by the market intelligence company, Ipreo.