Investors are waiting for the “summer of economic shocks”, according to the latest poll from Bank of America Merrill Lynch Fund Manager Survey.
This study involved 168 managers of investment funds that collectively manage assets of $505 billion, according to RNS.
Among the potential shocks asset managers called the decision to withdraw the UK from the EU following a referendum on June 23, the crisis of defaults in China (along with the devaluation of the local currency, the failure of monetary policy stimulus.
27% of respondents said the biggest risk of a crisis of defaults in China or a devaluation of the yuan, 15% the failure of the policy of quantitative easing.
71% of respondents considered the British exit from the EU is “unlikely” or “completely unbelievable”, however, a significant reduction in the proportion of investment in British shares (to the lowest level since Nov 2008) indicates that they are prepared for such an option.
