Just how confident are investors on global prospects?

The summer months are always the ideal time to take stock of the investment climate year-to-date - and to consider prospects for the second half.

In some years, it has been relatively easy to identify the consensus view on the key risks and opportunities for the coming months. But this year the outlook appears more mixed. According to the BofA Merrill Lynch Fund Manager Survey for July, a net 52% of respondents now expect the global economy to strengthen over the next year. This is close to last month’s reading and up four percentage points from May. However, Skandia International’s latest adviser survey of 349 advisers around the world shows confidence in the global economy has fallen for the first time in 12 months. Confidenc...