Management

Global investors are moving toward a ”risk off” stance, taking on greater protection as the prospect of geopolitical instability grows, according to the BofA Merrill Lynch Fund Manager Survey for March.

Equity investments returned 26.3 percent, fixed-income investments produced a zero return, and real estate investments returned 11.8 percent. The return was 1.0 percentage point higher than on the benchmark indices the fund is measured against.

European asset managers are set to rationalise further, but a widespread M&A spree is unlikely, Fitch Ratings says. Most managers may opt for less intrusive strategies, such as a reduction in the number of funds and cost-cutting, to tackle margin pressure in a fragmented and competitive market rather than face M&A challenges.

Investors have regained confidence in the global economic outlook following resolution of the U.S. debt crisis, according to the BofA Merrill Lynch Fund Manager Survey for November.

The California Public Employees’ Retirement System (CalPERS) today reported a 12.5 percent return on investments for the 12 months that ended June 30, 2013, outperforming its benchmark by 1.5 percentage points. CalPERS assets at the end of the fiscal year stood at more than $257.8 billion.