Fund managers are more positive about Asia-Pacific ex-Japan equities in the third quarter of 2009 than they were in the second quarter, an HSBC Quarterly Fund Managers Survey has revealed.
According to the survey, 90 per cent of fund managers were holding a positive view on Asia-Pacific ex-Japan equities, up from 45 per cent in the last quarter.
Overall, fund managers were more optimistic about equities as an investment class, with 50 per cent of fund managers overweight in the third quarter of the year compared to 30 per cent in the second quarter.
Seventy-five per cent of fund managers remained bullish about Greater China equities this quarter, while 73 per cent held a positive view towards emerging markets equities, up from 27 per cent in the last quarter.
Only 30 per cent of fund managers were bullish on bonds, down from 70 per cent in the last quarter.
Views on cash were the least positive, with 57 per cent of fund managers moving to an underweight view, in comparison to 25 per cent last quarter, with no fund manager holding an overweight view.
HSBC Bank Australia head of global investments Charles Genocchio said: “We see improving market performance, combined with some signs of economic recovery especially in Asia-Pacific and emerging markets, are buoying investor sentiment for equities as people actively seek growth opportunities.
“Investors remain positive about Greater China equities, given the stellar performance of the stock market and positive signs of economic development in the region over the past few months.”
The quarterly HSBC survey analysed 13 of the world’s leading fund management houses.
