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Survey reveals continuing pessimism
Most fund managers believe it is too early to call an end to the global financial crisis, according to new research released this week by FTI Consulting.
The research covering leading institutional investors from 15 countries reveals that 64 per cent do not believe the GFC is over, with those in the United Kingdom, the US and Australia being among the most pessimistic.
According to the data, 73 per cent of fund managers in the UK believe it is too early to call an end to the GFC, compared to 76 per cent in the US and 80 per cent in Australia.
This compared with 59 per cent of managers in continental Europe and 62 per cent in Asia.
FTI chief executive Jack Dunn said it was clear that a majority of survey respondents did not believe the financial sector had recovered since the pinnacle of the collapse in September last year.
He said anecdotal evidence gathered in the survey suggested that across the globe, investors were concerned that the amount of leverage in the system that caused the original problem had not been reduced.
“The prevailing view is that there has been so much economic stimulus that markets cannot help but go up,” Dunn said. “The concern is what will happen when government money runs out.”
AUTHOR
Mike Taylor
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