Investment managers remain cautious
Australian investment managers appear not quite ready to believe the worst is over and continue to hold defensive positions, according to the latest Investment Manager Outlook survey released by Russell Investments.
The survey, released today, revealed that an increased number (42 per cent) of investment managers had adopted a bearish attitude towards Australian equities, while 65 per cent of them held a cautious view with respect to listed property.
However, while their investment stances might suggest the Australian investment managers are cautious about the immediate outlook, two in three indicated in their survey responses that they believe the worst is behind them, agreeing that the Australian share market reached its lowest point on March 18, 2008.
Commenting on the survey results, Russell’s Australian investment strategist Andrew Pease said it indicated a classic shift to defensive positioning by Australian fund managers.
“Managers are not expecting a rip-roaring bounce back from a 25 per cent drop in markets in March,” he said.
“Instead, they are repositioning themselves to ensure stable earnings during continuing uncertain times.”
AUTHOR
Mike Taylor
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