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Investor sentiment firmer in March
Global sentiment among institutional investors picked up in March, according to the latest State Street Investor Confidence Index.
The index data, released this week, revealed it had risen by five points to 91.6 points, largely driven by North American investors whose confidence rose 8.7 points to 89.5.
The index analysis noted that the outlook of European investors was similarly improved, rising 5.4 points to 100.6, while that amongst Asian investors sentiment actually declined slightly, falling 2.2 points to 94.5.
Commenting on the index, Harvard University professor Kenneth Froot said March had seen a significant curtailment of the selling that institutional investors had been engaged in since late last year.
"Indeed we observed net buying of equities by real money investors in the week ended 19 March," he said.
Froot's co-founder of the index, State Street Associates' Paul O'Connell, said that from a regional perspective investor behaviour had been in line with macroeconomic developments.
"The continued easing of financial conditions in Europe, in response to policy commitments, has improved sentiment among that region's investors," he said. "By contrast, evidence of some softening of the Asian growth trajectory muted risk appetite in that region."
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