There has been a sharp rise in investor sentiment this month the
Bank of America Merrill Lynch (BofA) survey
of fund managers has found.
Only 15% of the 173 respondents said that
growth would continue and are confident that the world economy will
make solid improvements over the next year.
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However Bank of America Merrill Lynch said that this was the largest
number of positive responses since the emergence of the credit
crunch in April/ May 2009.
BofA said that fund managers have increased
allocations to equities, real estate and commodities following low
numbers a month earlier when the bank’s growth expectations
composite rose from 37 to 49 a month later.
Risk on?
The US wealth manager said that investors are
now keen to take risks again following sharp
improvements in attitudes towards the economy.
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By GlobalDataHead of European equities strategy at BofA
Merrill Lynch global research, Gary Baker said: “August’s surge in
confidence seems to be more a triumph of policy projection and
potential than positive economic data. As indicated by the survey,
the risk is now that inaction by policy makers would lead to a
negative reaction in global markets.”
Panellists, who collectively manage $491bn, completed the global survey
from 3-9 August 2012.
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