Risk appetite returning for global fund managers

Global fund houses have become far more optimistic on the outlook for equities and bonds in signs of a marked turnaround in risk appetite, with hopes highest for Asia and emerging markets. Some 44% of respondents to the quarterly HSBC Fund Managers’ Survey – designed to identify global liquidity flows and asset allocation dynamics – are now overweight bonds, compared with 22% in the fourth quarter last year. Further, 50% are neutral on equities and 20% underweight, from 20% neut…