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Fundies more bullish on equities
Equities are making a comeback as fund managers become more confident of economic recovery, according to new research released by HSBC.
The HSBC quarterly Fund Managers Survey has revealed that nine out of 10 fund managers held a positive view on Asia-Pacific ex-Japan equities during the third quarter of 2009, up from 45 per cent in the second quarter.
Not surprisingly, the views of fund managers on bonds shifted to neutral in the third quarter, with only 30 per cent of respondents bullish on bonds, while cash is now languishing with most managers switching to an underweight view.
Commenting on the results of the research, HSBC Bank Australia head of global investments Charles Genocchio said improving market performance combined with signs of economic recovery, especially in the Asia-Pacific and emerging markets, were buoying investor sentiment for equities.
AUTHOR
Mike Taylor
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