Posted inDACH

sentiment survey 2013 q4 munich

Table 1 shows the responses of investors at Expert Investor Deutschland.

Table 2 shows sentiment data gathered via fund selector interviews and online surveys, shortly before the event.

 

 

Table 1: Event voting

1.) For European equities, do you prefer:  
Small-cap  25%
Large cap  31%
No preference  44%
   
2.) For European equities, do you prefer:  
Growth  14%
Value 43%
No preference  43%
   
3.) For European equities, do you prefer:  
Active  75%
Passive 6%
No preference  19%
   
4.) For European equities, do you prefer:  
Long-only 69%
Long-short 19%
No preference  13%
   
5.) For US equities, do you prefer:  
Small-cap  20%
Large cap  47%
No preference  33%
   
6.) For US equities, do you prefer:  
Growth  23%
Value 62%
No preference  15%
   
7.) For US equities, do you prefer:  
Active  73%
Passive 13%
No preference  13%
   
8.) For US equities, do you prefer:  
Long-only 50%
Long-short 38%
No preference  13%
   
9. Is behavioural finance part of your investment process?  
Yes 75%
No 25%
   
10.) In how many of the past 10 years did equities outperform bonds?  
4 years 65%
6 years 29%
8 years 6%
   
11.) Re Chinese equities, over the next 12 months do you expect to:  
Increase your weighting 33%
Keep it the same / uncertain 50%
Decrease your weighting 0%
We don’t use this asset class 17%
   
12.) Re commodities, over the next 12 months do you expect to:  
Increase your weighting 36%
Keep it the same / uncertain 14%
Decrease your weighting 36%
We don’t use this asset class 14%
   
13.) For EM equities, do you prefer:  
Small-cap  18%
Large cap  64%
No preference  18%
   
14.) For EM equities, do you prefer:  
Growth  8%
Value 46%
No preference  46%
   
15.) For EM equities, do you prefer:  
Active  92%
Passive 0%
No preference  8%
   
16.) For EM equities, do you prefer:  
Long-only 69%
Long-short 23%
No preference  8%
   
17.) Re Japanese equities, over the next 12 months do you expect to:  
Increase your weighting 21%
Keep it the same / uncertain 36%
Decrease your weighting 0%
We don’t use this asset class 43%
   
18.) For fixed income do you prefer:  
Traditional 20%
Multi-asset  67%
Hedge 13%
No preference 0%
   
19.) Re convertible bonds, over the next 12 months do you expect to:  
Increase your weighting 15%
Keep it the same / uncertain 54%
Decrease your weighting 0%
We don’t use this asset class 31%
   
20.) Are you familiar with catastrophe bonds?  
Yes 58%
No 42%
   
21.) Would you make a significant investment in catastrophe bonds?  
Yes 25%
No 75%
   
22.) Re catastrophe bonds, over the next 12 months do you expect to:  
Increase your weighting 23%
Keep it the same / uncertain 15%
Decrease your weighting 0%
We don’t use this asset class 62%
   
23.) Which is the greater threat?  
Inflation 27%
Deflation 73%
   
24.) Re the gold price, are you a:  
Bull 23%
Undecided/Neither 15%
Bear 62%
   
25.) What will be the fate of the euro?  
It will not exist in 2 years 0%
It will not exist in 10 years 8%
It will continue 92%
   
26.) What should happen to the euro?  
It should stay as it is 62%
The fiscally strong states should form a separate union 23%
We should go back to one country, one currency 15%

Table 2: Pre-event sentiment 

1.) Re global emerging market equities, over the next 12 months do you expect to:  
Increase your weighting 47%
Keep it the same / uncertain 43%
Decrease your weighting 7%
We don’t use this asset class 3%
   
2.) Re developed European equities, over the next 12 months do you expect to:  
Increase your weighting 43%
Keep it the same / uncertain 53%
Decrease your weighting 3%
We don’t use this asset class 0%
   
3.) Re UK equities, over the next 12 months do you expect to:  
Increase your weighting 7%
Keep it the same / uncertain 33%
Decrease your weighting 13%
We don’t use this asset class 47%
   
4.) Re US equities, over the next 12 months do you expect to:  
Increase your weighting 23%
Keep it the same / uncertain 40%
Decrease your weighting 27%
We don’t use this asset class 10%
   
5.) Re Asian equities, over the next 12 months do you expect to:  
Increase your weighting 47%
Keep it the same / uncertain 40%
Decrease your weighting 3%
We don’t use this asset class 10%
   
6.) Re Japanese equities, over the next 12 months do you expect to:  
Increase your weighting 10%
Keep it the same / uncertain 33%
Decrease your weighting 13%
We don’t use this asset class 43%
   
7.) Re developed market government bonds, over the next 12 months do you expect to:  
Increase your weighting 11%
Keep it the same / uncertain 44%
Decrease your weighting 26%
We don’t use this asset class 19%
   
8.) Re developed market corporate bonds, over the next 12 months do you expect to:  
Increase your weighting 41%
Keep it the same / uncertain 26%
Decrease your weighting 22%
We don’t use this asset class 11%
   
9.) Re high yield bonds, over the next 12 months do you expect to:  
Increase your weighting 30%
Keep it the same / uncertain 44%
Decrease your weighting 15%
We don’t use this asset class 11%
   
10.) Re emerging market government bonds, over the next 12 months do you expect to:  
Increase your weighting 26%
Keep it the same / uncertain 48%
Decrease your weighting 15%
We don’t use this asset class 11%
   
11.) Re emerging market corporate bonds, over the next 12 months do you expect to:  
Increase your weighting 41%
Keep it the same / uncertain 44%
Decrease your weighting 7%
We don’t use this asset class 7%
   
12.) What is your broad macroeconomic outlook?  
Positive 60%
Uncertain 37%
Negative 3%
   
13.) Re absolute return strategies, over the next 12 months do you expect to:  
Increase your weighting 56%
Keep it the same / uncertain 41%
Decrease your weighting 0%
We don’t use this asset class 4%
   

tom@ybc.tv

Bio lorem ipsum dolor sit amet.

Part of the Bonhill Group.