First Prime Group are thought to be considering investment in the shares of beleaguerŤË!#dvUŹ-
A source close to First Prime Group said that the stated aim of the bailout was to free banks and financial institutions to lend to businesses and consumers.
The source said that the Asian-based asset manager may make tentative forays into the market to acquire heavily-sold stock in the hope that homebuyers will return to stem the falls in property values that kicked off the credit crunch over a year ago.
“They [First Prime Group] see the market as cyclical and, eventually, confidence will return to the housing market. Now may be a good time to progress this contrarian investment strategy.”
First Prime Group have apparently advised clients to avoid the sector but the rescue package, according to the source, may yet stem losses and therefore is worthy of consideration.
