Fund managers increasingly bullish on global growth
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Fund managers increasingly bullish on global growth 22 March 2012US Reporter: Georgina Lavers
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28 per cent of fund managers expect the world’s economy to grow in 2012, an increase of 17 per cent from February’s results.
The latest Bank of American Merrill Lynch survey found that fund managers were increasingly confident about the year ahead, yet optimism about growth has in turn diminished faith in further quantitative easing in the US and Eurozone.
Almost half of the survey’s 278 participants said they did not expect any more quantitative easing from the Federal Reserve, compared with 36 per cent in February.
“Such has been the success of central bank policy, you now have many investors thinking quantitative easing is no longer required,” said Gary Baker, head of European equity strategy at Bank of America Merrill Lynch Global Research.
Though anticipation of progress improved in the US, Europe and Japan, growth expectations for China were considerably weaker. The net percentage of investors predicting a feebler Chinese economy rose to 9 per cent from 2 per cent.
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