UK - Half of all pension funds expect the stock market to fall further during the next six months, a survey by JPMorgan Fleming shows.
The fund manager’s latest survey – JPMorgan Fleming Investor Confidence Survey – showed that only 21% of investors are confident the market will recover by the summer while a third (32%) were uncertain over what the future held.
JPMorgan Fleming head of market research Peter Brewster said: “We have seen a clear drop in investor confidence since March 2002 as investors react to the general slowdown in the world economy and fears of war and terrorism.”
Brewster continued: “The current survey took place immediately prior to the week-long rally in share prices and in the lead up to the start of the war in Iraq. The significant bounce back in shares at that time may make people more optimistic about future prospects if the rally is maintained.”
The surveys are carried out on behalf of JPMorgan Fleming Asset Management by MarketMinder and involve a randomly selected national sample of approximately 500 investors.
The latest survey was carried out between March 7-13.
*JPMorgan Investor Services has developed an internet-enabled tool which, it says, will decrease operational risk and promote a straight-through processing environment for fund managers.
Investment managers can use JPMorgan’s proprietary web portal, Treasury and Securities Services Online, to receive and respond to corporate action notices and digitally sign for sent/bulk instructions.For more information, visit www.jpmorganchase.com.
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