Poll shows money managers optimistic about China's economy

A net 51% of investors polled across Asia Pacific, Japan and emerging markets around the world are confident China’s economy will strengthen in the next year, Pensions & Investments reported. The Bank of America Merrill Lynch November Survey of Fund Managers reading was the highest since July 2009 and a 46% increase on last month. A net 34% of those polled said they expect the world economy to strengthen in the coming year, while 54% cited the fiscal cliff as the largest tail risk. “While sentiment within Europe remains weak, rising allocations to global stocks tell us confidence in general is improving,” John Bilton, European investment strategist, said in a news release. “The jump in China optimism shows how fast sentiment can turn around.” The survey was taken between November 2 and 8 of 248 money managers with US$695 in assets under management.