GLOBAL - Over a third of European fund managers considered themselves underweight in US stocks and planned a shift to neutral status by the end of the year, according to a survey by Thomson Financial.
Thomson added the shift could signal potential for US companies seeking investment from non-US investors.
In a survey of 118 fund managers aimed at identifying trends within portfolio management, Thomson also found that US managers considered themselves overweight in domestic securities, and were expected to pare back by the end of the year.
The survey also analysed fund managers' views towards BRIC economies, and found that most were bearish on their investment outlook.
"Despite outperforming macroeconomic data, fund manager respondents said economic valuations looked over-stretched, with a lack of corporate governance and high barriers to foreign investment cite as potential risks," Thomson explained.
Among global equity sectors, 31% of fund managers surveyed were weighted towards financial stocks, while 16% were weighted towards technology and 13% telecoms.
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.