The appetite for equities has fallen between the first and second quarter of 2013, according to a fund manager survey undertaken by HSBC.
The figures that were published as findings of HSBC’s quarterly fund manager survey reveal that the number of managers championing equities dropped from 75% in Q1 to 57% at the end of Q2.
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Accoridng to the sruvey results, this change in attitude coincided with fund managers who are overweight either cash or bonds, rising from 0% to 14% over the two quarters. However, 43% fund managers said they were underweight in these two asset classes.
Global fund managers "generally remain optimistic about the prospects of equities", but it is worth noting that "some managers have turned cautious due to renewed concerns on the eurozone debt crisis", said Paul Arrowsmith, head of retail banking and wealth management for HSBC Singapore.
"Emerging markets equities including Asia equities continue to be attractive as a result of better fundamentals," added Arrowsmith.
Emerging markets equities have gained momentum in Q2, with 57% of managers stating a positive view here compared to only 29% in Q1. However the numbers are regional basis.
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By GlobalDataBetween the first and second quarters of 2013, the appetite for emerging market also rose, going from 63% to 71%, and the percentage of managers’ overweight Asian local currency bonds rose from 33% to 75%.
