Fund managers bullish on Asia-Pacific equities
Fund managers have shifted towards a bullish view on Asia-Pacific ex Japan equities for the third quarter of 2009, according to an HSBC fund manager survey.
The survey showed nine out of 10 fund managers hold a positive view on Asia-Pacific ex Japan equities, up from 45 per cent last quarter.
Overall, there is growing optimism for equities as an investment class, with 50 per cent of fund managers overweight in the third quarter, up from 30 per cent last quarter.
Seventy-five per cent of fund managers remain bullish about greater China equities this quarter while almost three-quarters hold a positive view towards emerging markets equities, up from 27 per cent in the second quarter.
Meanwhile, the survey showed only 30 per cent of fund managers are bullish on bonds, down from 70 per cent.
The view on cash was least positive with 57 per cent of fund managers moving to an underweight view, up from 25 per cent last quarter, with no fund managers holding an overweight view.
“We see improving market performance combined with some signs of economic recovery, especially in Asia-Pacific and emerging markets, buoying investor sentiment for equities as people actively seek growth opportunities,” said HSBC Bank Australia's head of global investments, Charles Genocchio.
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