Fund managers lose faith in equities

A survey of fund managers conducted by HSBC has found a growing number are underweight equities. "Fund managers have become less bullish on equities compared to the past few months," says Bruno Lee, regional head of wealth management for Asia-Pacific at HSBC. The survey was conducted among managers on HSBC's platform, including AllianceBernstein, Allianz Global Investors, Barings, BlackRock, Fidelity, Franklin Templeton, HSBC Global Asset Management, Invesco, Investec, JP Morgan Asset…