Manager sentiment moves from recession to recovery

Merrill Lynch survey reveals significant increase in optimism

Global growth expectations have surged in the past two months, according to the latest fund manager survey from Merrill Lynch. The survey, conducted between 5 and 11 June, included interviews with 226 fund managers and found only 7% believe a global recession is likely in the next year versus 70% just two months ago. International investment strategist Gary Baker says: "Fund manager optimism on global economic prospects remains unbounded with our growth composite indicator reaching 78, the highest level since February 2004." Adding to the positive sentiment was the finding that 29% of...