GLOBAL - Institutional investor confidence in the US was at an 18 month low, with confidence in Asia also down and the European outlook barely improved over last month, according to State Street Global Markets.
Globally, the index declined 6.1 points in October, from 88.7 to 82.6, with the greatest fall in the US, where confidence fell to 89.2 points from 102.8 last month.
This is the lowest level the US confidence index has been at since February 2006.
Asian confidence fell 1.7 points while European investors were marginally more optimistic, with the index rising 0.7 points.
Ken Froot of Harvard University commented: “Following the see-saw behaviour of late summer, which saw institutional investors providing liquidity in August, before taking profit in September, this month’s confidence reading reflects a more dubious stance.”
The figures, released by State Street’s Investor Confidence Index, were based on an analysis of institutional investor activity on global equities markets.
The index was calculated by the amount of a portfolio investors are willing to hold in equities, with higher allocations equating to a greater appetite for risk, or confidence.
The Pensions Regulator (TPR) and Labour MP Stephen Kinnock and will listen to the experiences of steelworkers when transferring their pensions away from the British Steel Pension Scheme (BSPS) next week in Port Talbot.
Just Group has acquired a 75% stake in the holding company of Corinthian Pension Consulting in a bid to strengthen its professional defined benefit (DB) advisory services.
The Pensions Regulator (TPR) has exercised its production order power under the Proceeds of Crime Act 2002 for the very first time as part of a fraud investigation.
The ITN Limited Pension Scheme has named Trafalgar House as its administrator for an initial term of five years.