{"id":60137,"date":"2023-09-12T16:08:07","date_gmt":"2023-09-12T20:08:07","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/u-s-stocks-benefit-as-fund-mangers-ditch-emerging-markets-amid-china-concern\/"},"modified":"2023-09-12T16:08:10","modified_gmt":"2023-09-12T20:08:10","slug":"u-s-stocks-benefit-as-fund-mangers-ditch-emerging-markets-amid-china-concern","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=60137","title":{"rendered":"U.S. Stocks Benefit as Fund Mangers Ditch Emerging Markets Amid China Concern"},"content":{"rendered":"
\n
<\/p>\n

<\/p>\n

<\/p>\n<\/figure><\/div>\n

Fund managers made a record jump into U.S. equities in September and out of emerging markets as the risks to the global economy heighten, according to
\n Bank of America
\n \u2018s monthly survey Tuesday.<\/p>\n

BofA investment strategist Michael Hartnett wrote in a research note Tuesday that there was a \u201cdramatic sift\u201d to U.S. equities and a record drop in emerging markets \u201cas China growth optimism slumps back to lockdown lows.\u201d This was according to a survey conducted between Sept. 1 and Sept. 7 that included 222 participants with $616 billion assets under management.<\/p>\n

\n

The allocation to U.S. equities gained 29 percentage points in September while the allocation to emerging markets dropped 25 percentage points, the survey showed.<\/p>\n

This can be seen in the large jump of U.S. stocks this year. The
\n S&P 500
\n has surged 17% in 2023 while the Vanguard
\n FTSE Emerging Markets ETF
\n has gained 3.2%. <\/p>\n

Meanwhile, the tech-heavy
\n Nasdaq Composite
\n has jumped 33% as investors have taken bets on the future of artificial intelligence. Hartnett added in his research that the most crowded trades in September have been long big tech and short China Equities. <\/p>\n

The world\u2019s second largest economy has hit a rough patch following years of tight Covid-19 lockdowns, amid a troubled property market and an overall slowdown in the China\u2019s services sector. This has concerned traders and fund managers, leading them to put their investments into U.S. equities more than ever before.<\/p>\n

However, recent Chinese inflation data this week came in better than expected. It\u2019s possible that with a heavily crowded U.S. equity market, fund managers may take any positive catalysts abroad as encouragement to increase their positions in global markets moving forward.<\/p>\n

But for now, Hartnett noted that the fund manager consensus is that the global economy gets weaker over the next 12 months. He added that China growth optimism this month is currently lower than in September 2022, which was before the country reopened from its pandemic shutdowns.<\/p>\n

Write to Angela Palumbo at angela.palumbo@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Fund managers made a record jump into U.S. equities in September and out of emerging markets as the risks to the global economy heighten, according to Bank of America \u2018s monthly survey Tuesday. BofA investment strategist Michael Hartnett wrote in a research note Tuesday that there was a \u201cdramatic sift\u201d to U.S. equities and a […]<\/p>\n","protected":false},"author":1,"featured_media":60138,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-60137","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nU.S. Stocks Benefit as Fund Mangers Ditch Emerging Markets Amid China Concern | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Fund managers made a record jump into U.S. equities in September and out of emerging markets as the risks to the global economy heighten, according to\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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