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Investor confidence falls from 88.1 to 86.2 in October

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Investor confidence fell 1.9 points from September’s revised reading of 88.1 to 86.2 in October, according to the State Street Investor Confidence Index.



In North America, confidence fell by 3.2 points to 84.9 from September’s level of 88.1.

Investor confidence in Europe remained largely static, ticking down 0.6 points to 96.4 from 97.0 in the prior month.

Across the regions, confidence among Asian investors remained positive at 103.3, though this level was down 4.4 points from the September reading.

Developed by Harvard University professor Kenneth Froot and Paul O’Connell of State Street Associates, the index measures investor confidence on a quantitative basis by analysing the actual buying and selling patterns of institutional investors.

“This month saw institutional investor confidence continue to ease further,” says Froot. “Looking at the underlying data, institutions have been allocating away from developed markets and towards emerging markets, but the net of the two flows has been negative. This continues a pattern established at the beginning of August and would suggest that institutional investors are content to play the role of liquidity provider rather than liquidity taker in the current market environment.”

 “Similar to last month, we see continued reticence on the part of investors to invest in the major economies,” adds O’Connell. “The euro region did receive some flows during the month, but flows to the US, UK, Japan and Australia were generally anemic. The most attractive destinations for institutional flows over the month were China and India, reflecting that growth appears more compelling to investors in these regions than in the core developed markets.”

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