| Fund managers are focused on avoiding the contagion from falling Chinese markets, as they turn their back on Greece worries, finds a new survey. While Greece dominated concerns in previous months, China recession is now the number one tail risk for managers, finds the Bank of American Merrill Lynch fund manager survey for August. More than half of fund managers are ranking China as the top concern.
Investors are “avoiding anything exposed to China or commodities,” says James Barty, head of European equity strategy. Following the People’s Bank of China devaluation of the yuan last week, investors began to get more jitterish, says Valentijn van Nieuwenhuijzen, head of multi-asset at NN Investment Partners, formerly ING Investment Management...............................................Full Article: Source
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