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Alternative Market Briefing

59% of investors optimistic about global economy, says BofA Merrill Lynch Fund Manager Survey for February

Wednesday, February 13, 2013

Benedicte Gravrand, Opalesque Geneva: According to the BofA Merrill Lynch Fund Manager Survey for February 2013, a net 59% of investors believe the global economy will strengthen in the year ahead, in line with the reading in January, which marked four consecutive months of rising sentiment. And 39% of the panel believe that profits worldwide will improve in the coming 12 months, up from a net 29% in January, according to Bank of America’s release .

An overall total of 251 panelists with US$691 billion of assets under management participated in the survey from 1 February to 7 February. The survey was conducted by BofA Merrill Lynch Research with the help of market research company TNS.

Investors continue to see value in equities in light of strong market performances of early 2013. 13% of global investors think equities are under-valued, while 82% say bonds are overvalued.

Risk appetite is stable as cash balances in portfolios remain at 3.8%. Investors overweight cash are down to 2% from 8% in January.

"The continued high level of optimism is a concern and markets may be vulnerable to bad news, but valuation support suggests any correction should be short and shallow, and our core 'Great Rotation' theme remains in play," said Michael Hartnett, chief investment strategist at BofA Merrill Lynch Glob......................

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