A trader from BGC, a global brokerage company in London's Canary Wharf financial centre reacts during trading June 24, 2016 after Britain voted to leave the European Union in the EU BREXIT referendum.Large-fund managers' growth expectations declined in February as coronavirus dragged down sentiment.
Fewer managers foresee promising global growth this month than did last month, the survey that was published Tuesday found. A net 18% of fund managers had positive growth expectations, versus 36% in January. That dip in sentiment comes from a deterioration in expectations surrounding Chinese growth, according to the survey, whose participants are mostly institutional, mutual, or investment or unit trusts.
Still, coronavirus is not the headline weighing most in fund managers' list of market risks. Instead, just as they did in, managers ranked the outcome of the 2020 presidential election as the biggest tail risk facing markets. The surveyed managers defined a risk as anything that would move an investment more than three standard deviations from its price.
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