Data from Expert Investor’s research team found that fund selectors in Spain had positive intentions to buy 13 out of 22 asset classes. The Spaniards only had intentions to sell developed market high-yield bonds and developed market government bonds.
European, Asian, global emerging markets, and global equities, along with emerging market debt, absolute return/hedge strategies, and property were the asset classes most liked by the Spanish fund pickers.
The Spanish respondents were also on the positive side when it came to their macroeconomic outlook with 78% of selectors feeling positive in Q4 2017, up from 50% in Q3. This was above the pan-European average of 72%.
On the Portuguese side, fund selectors were keen to buy 12 asset classes with absolute return and hedge strategies, Japanese, European, global emerging markets and Asian equities, along with unconstrained bonds as their favourites.
However, the Portuguese selectors said they wanted to sell developed market high-yield bonds, developed market corporate bonds, developed market government bonds as well US equities.
Across all European fund selectors, the Portuguese were very positive when it came to their macroeconomic sentiment at 88%. This was considerably more optimistic than Q3 where only 65% were feeling positive.
Luxembourg selectors were intending to buy 12 asset classes with emerging market corporates and government bonds, Asian, global emerging markets, Japanese, and European equities, along with absolute return and hedge strategies as favourites.
The selectors only intended to sell developed market high yield bonds, developed market corporate bonds, as well as US equities and commodities.
Around 70% were optimistic on the macroeconomic outlook, there were more pessimists around at 22%, compared with the pan-European average of 3%.