Alroy Commentary - What did fund manager think at October?
Fund manager shifted their focus on October dramatically, according to BofA Merrill Lynch fund manager survey. In the article below, we would like to discuss what fund managers thought and what they acted.
1. Less optimistic on global economy growth: 54% respondents believe the global economy will strengthen, which had fallen by 15%. In addition, 71% expect the economic growth to remain “below trend” in the coming 12 months.
2. Less holding U.S. equities: Net 63% respondents say the U.S. is the most overvalued region, no fund manager say they would like to overweight U.S. equities.
3. Overweight European equities: Net 46 percent of asset allocators are overweight European equities. Global investors’ outlook for European corporate profits has continued to rise.
4. Overweight South Korea and Hong Kong equities: Over 15% respondents are overweight South Korea and Hong Kong equities in Asia. Asset allocators are underweight asset in countries of Association of Southeast Asian Nations, except Singapore.
Technology rather than Commodities: Over 30% of Asset allocators are buying technology company asset, however, 28% of them are underweight commodities.
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