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Alternative Market Briefing

Global investor confidence slips by 1.7 points to 82.7 in November: State Street

Friday, November 30, 2018

Laxman Pai, Opalesque Asia:

The global investor confidence fell in November, with the decline led by North American investors. The State Street Investor Confidence Index (ICI) slipped 1.7 points to 82.7, down from October's revised reading of 84.4.

According to State Street Corporation, provider of financial services to institutional investors, confidence among North American investors further weakened, with the North American ICI decreasing from 81.6 to 79.2.

The European ICI had a small up-tick of 0.4 points to 91.9 while the Asia ICI increased by 2.6 points to 102.2, it said.

A reading of 100 is neutral, and represents the level at which investors are neither increasing nor decreasing their long-term allocations to risky assets.

"This month, it appears there was a reset in investor sentiment, and with the exception of Asia investors, it has severely reduced optimism amid recent market turbulence. And as result, managers are now strongly adjusting their risky-asset positioning," said Kenneth Froot, who co-developed the index.

The ICI measures investor confidence or risk appetite quantitatively by analysing the actual buying and selling patterns of institutional investors; the greater the percentage allocation to equities, the higher the risk appetite or confidence. The index differs from survey-based measures in that it is based on the actual trades, as opposed to opinions, of institutional investors, State Street said.

Michael Metcalfe, senio......................

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