Expectations for emerging market equities rose for the third consecutive month in November, as sentiment continued its recovery from an all-time survey low of minus 18, recorded in August (see chart).
The shift was also apparent in our BRIC and Asia Pacific (ex Japan) benchmarks – both of which posted small gains – and coincides with a rise in the EM equity allocations of fund managers.
As reported, participants in the Bank of America Merrill Lynch Fund Manager Survey for November have returned to an overweight position in the asset class, for the first time in six months.true
Elsewhere in the Expert Investor Europe survey, sentiment on European (ex UK) stocks declined slightly, from a six-year high of 60 in October, to a still strongly-bullish 47. US equities arrested a three-month slide, meanwhile, with an uptick in manager forecasts for the S&P 500 Index.
Platinum members can view the latest Expert Investor Europe Manager Sentiment Survey here.
The Expert Investor Europe Manager Sentiment Survey is based on data gathered monthly by Skandia from fund groups operating in Europe. Participants in November were: Allianz Global Investors, Aviva Investors, Axa Framlington, Barings, BlackRock, F&C, Fidelity, GLG, Henderson, HSBC, Ignis, Investec, JP Morgan, Newton, Old Mutual Global Investors, Pictet, Schroders, SWIP and Threadneedle.
