Economics
Funds Shift From Asia Stocks to North America, HSBC Says
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The world’s largest fund managers are shifting away from Asian stocks in the first quarter over inflation concerns in favor of North American equities on an improving economic outlook, said a HSBC Holdings Plc survey.
Half of the fund managers have a positive outlook on non-Japan Asian stocks, down from 75 percent in the fourth quarter, according to the quarterly survey. All of the 12 houses, which manage a total of $3.98 trillion of assets, or 16 percent of global funds under management, are bullish about North American equities, up from 25 percent in the fourth quarter.