Fund managers downgrade Asia to underweight
Citigroup report shows global fund managersÆ consensus weighting in Asia is at its most bearish in six years.
Global fund managers have shifted to an underweight in Asia within an international equities portfolio for the first time in six years, the latest Citigroup analysis of fund flows shows.Elaine Chu, Hong Kong-based regional equities strategist at Citigroup, says the turnaround in the consensus weighting in Asia to underweight in end-July from the previous overweight is most likely the combined result of the impact of the US subprime mortgage crisis and the regionÆs sharp gains prior to…
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