Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Portfolio > Asset Managers

Survey: Money managers grow more pessimistic about economy

By Danielle Andrus

X
Your article was successfully shared with the contacts you provided.

Investment managers expressed disappointment in most equity classes in a recent survey by Russell Investments. Developed markets were especially disheartening, dropping 21 percentage points.

“The markets have rebounded significantly from the lows of last March, but managers want to see real economic growth before they begin to believe in another strong rise for equities,” said Erik Ogard, director of client investment strategies for the company.

Sixty percent of managers believe the market is fairly valued, down slightly from 63 percent last quarter. More managers believe the market is undervalued now than it was last quarter; 28 percent said it was undervalued, up from 19 percent.

Managers are still bullish about the technology, materials and processing, and energy sectors, the survey found. The health care sector increased slightly from last quarter’s survey.

Bullishness for cash was at an all-time low since Russell Investments began surveying managers. Treasuries were equally unsatisfying as 6 percent of managers reported that both asset classes were “priced too expensively to garner much interest.”

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.