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Fund managers bullish on North American equities
Fund managers are favouring North American equities over those from Asia ex-Japan, with concerns about inflation and tightening measures driving funds elsewhere, according to a new survey.
The HSBC Fund Managers’ Survey found that 100 per cent of managers surveyed were taking an overweight position towards North America in the first quarter of the year, up from 75 per cent last year.
There was also an increase of 10 percentage points of those fund managers taking a neutral view towards China equities, up to 43 per cent.
Head of global investments at HSBC Bank Australia Geoffrey Pidgeon, said the survey shows a significant change in investor confidence.
“Fund managers are looking to North American equities because of improving economic conditions, merger and acquisition activities and encouraging company reports,” he said.
“At the same time, fund managers are lukewarm on Asia ex-Japan due to concerns about rising inflation in the region, and less bullish on greater China equities as the market takes in the impact of ongoing austerity measures to contain inflation.”
AUTHOR
Ashleigh McIntyre
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