France, often portrayed as the sick man of Europe, is home to some of Europe’s most bullish fund selectors these days.
The last two months have seen a sharp spike in attitude towards US equities among global asset managers
Asset management groups have started to expect better returns coming from US equities after March’s favourable returns
Appetite for emerging markets equities is approaching the lows recorded in mid-2011.
Fund managers’ confidence in the performance of European equities is stronger than ever before.
Fund managers were successful in predicting the good performance of US and UK equity markets in 2013, but missed out on doing so for Japan and EU equities.
Italian fund selectors are again starting to take stealthy looks at emerging market corporate bonds
The recent emerging market-led sell-off in equity markets has not been reflected in improving sentiment towards traditional safe haven assets such as developed market corporate and government bonds.
Sentiment towards emerging markets has yet to find its floor, according to European fund selectors surveyed by Expert Investor Europe, with indicators still falling.
Fund selectors in Europe’s largest economy have grown notably more pessimistic on the macroeconomic outlook over the past six months, mirroring other recent sentiment indicators.