GLOBAL MARKET SENTIMENT SURVEY 2013 January 2013.

15
GLOBAL MARKET SENTIMENT SURVEY 2013 January 2013

Transcript of GLOBAL MARKET SENTIMENT SURVEY 2013 January 2013.

Page 1: GLOBAL MARKET SENTIMENT SURVEY 2013 January 2013.

GLOBAL MARKET SENTIMENTSURVEY 2013January 2013

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CFA Institute 2

AVOIDING THE FISCAL CLIFF

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CFA Institute

RESPONDENT PROFILE

USA 3042

CANADA 839

UK 309

SWITZERLAND 205

HONG KONG 192

CHINA 175

GERMANY 174

AUSTRALIA 135

INDIA 115

SOUTH AFRICA 107

SINGAPORE 98

JAPAN 72

BRAZIL 64

FRANCE 64

KOREA 55

ITALY 53

RUSSIA 53

UAE 50

AUSTRIA 46

NETHERLANDS 45

TAIWAN 42

SPAIN 38

TOP COUNTRIES

60%AMER

24%EMEA

16%APAC

3

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CFA Institute 4Global Market Sentiment Survey 2013

“Not Sure” option not displayed

GLOBAL AMER APAC EMEA GLOBAL AMER APAC EMEA GLOBAL AMER APAC EMEAExpand Stay roughly the same Contract

40%39%

32%

50%

38% 38%

41%

35%

20%22%

24%

14%

34%36%

25%

38%

34% 35%

30%

34%

29%27%

42%

27%

2013 2012

IN 2013, DO YOU EXPECT THE GLOBAL ECONOMY TO:

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CFA Institute 5Global Market Sentiment Survey 2013

Europ

ean

sove

reign

deb

t cris

is

Wea

k eco

nom

ic co

nditio

ns

Politic

al ins

tabil

ity

Syste

mic

disru

ption

s

Exces

s reg

ulatio

n

Wea

k reg

ulatio

n

Other

37%

31%

12%

10%

5%

1%

4%

38%

30%

14%

9%

4%

1%

4%

36%35%

9%11%

5%

1%3%

35%

33%

10% 10%

6%

1%

4%

Global AMER APAC EMEA

"No opinion” option excluded from results.

WHAT DO YOU SEE AS THE BIGGEST RISK TO GLOBAL CAPITAL MARKETS IN 2013?

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CFA Institute 6Global Market Sentiment Survey 2013

“Not Sure” option not displayed

GLOBAL AMER APAC EMEA GLOBAL AMER APAC EMEA GLOBAL AMER APAC EMEAExpand Stay roughly the same Contract

45%

49%46%

33%

38% 37%36%

42%

16%

13%

16%

24%

42%

46% 47%

24%

40% 41%

31%

44%

17%

12%

21%

30%

2013 2012

IN 2013, DO YOU EXPECT YOUR LOCAL ECONOMY TO:

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CFA Institute 7Global Market Sentiment Survey 2013

Equities Precious metals Commodities Bonds Cash

41%

25%

15%

10%9%

50%

22%

16%

8%

4%

2012 2013

*Chart displaying proportion of members ranking the asset class as likely to have the highest expected return.

RANK THE FOLLOWING ASSET CLASSES IN ORDER OF EXPECTED TOTAL RETURN IN THE GLOBAL MARKETS IN 2013*

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CFA Institute 8Global Market Sentiment Survey 2013

United

Sta

tes

China

Brazil

Canad

aIn

diaOth

er

Germ

any

Mex

ico

Russia

Hong

Kong

Austra

liaSpa

in

Singap

ore

South

Kor

ea

Japa

nIta

ly

South

Afri

ca

Switzer

land

United

King

dom

Chile

Qatar

Saudi

Arabia

Kuwait

32%

17%

10%

4% 4%5%

3% 3% 3% 3% 2% 2% 2% 2% 1% 1% 1% 1% 1% 1% 1% 1% 0%

Global

WHICH THREE EQUITY MARKETS DO YOU THINK WILL PROVIDE THE BEST INVESTMENT OPPORTUNITY IN 2013? 1 (best opportunity)*

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CFA Institute 9Global Market Sentiment Survey 2013

WHICH OF THE FOLLOWING INVESTMENT VEHICLES DO YOU THINK YOU WILL USE THE MOST IN 2013?

Individual stocks and

bonds

ETFs Mutual funds Index funds Private equity funds

Hedge funds Structured products

Other

38%

24%

16%

9%

4% 3% 3% 3%

36%

26%

18%

9%

3% 3%2%

3%

43%

18%

10%9%

5% 5% 5%

3%

41%

21%

15%

7%

5%3% 4% 4%

Global AMER APAC EMEA

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CFA Institute 10Global Market Sentiment Survey 2013

Increase Decrease Stay about the same

14%

35%

51%

17%

33%

49%

2012 2013

"Not Sure” option excluded.

IN 2013, DO YOU EXPECT EMPLOYMENT OPPORTUNITIES FOR INVESTMENT PROFESSIONALS IN YOUR LOCAL MARKET TO INCREASE, DECREASE, OR STAY ABOUT THE SAME?

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CFA Institute 11Global Market Sentiment Survey 2013

Lack

of e

thica

l cult

ure

within

finan

cial fi

rms

Poor g

over

nmen

t reg

ulatio

n an

d en

forc

emen

t

Mar

ket d

isrup

tions

(fail

ed IP

Os, fla

sh cr

ash

etc.)

I don

’t thin

k the

re is

lack

of t

rust

in th

e fin

ance

indu

stry.

Other

56%

16% 16%

2%

9%

53%

19%15%

2%

12%

59%

16% 19%

2% 4%

63%

10%

18%

1%8%

Global AMER APAC EMEA

“No opinion” option excluded from results.

WHICH FACTOR DO YOU THINK HAS CONTRIBUTED THE MOST TO THE CURRENT LACK OF TRUST IN THE FINANCE INDUSTRY?

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CFA Institute 12Global Market Sentiment Survey 2013

24%21% 19%

16% 16%

4%

22%

9%

38%

13% 14%

3%

31%

9%

23%

14%18%

4%

2013 2012 2011

WHICH ONE OF THE FOLLOWING REGULATORY OR INDUSTRY ACTIONS IS MOST NEEDED IN THE COMING YEAR (2013) TO HELP IMPROVE INVESTOR TRUST AND MARKET INTEGRITY?

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CFA Institute 13Global Market Sentiment Survey 2013

Mis-

sellin

g by

finan

cial a

dvise

rs

Mar

ket f

raud

Inte

grity

of f

inanc

ial re

porti

ng

Mar

ket t

radin

g pr

actic

es

Disclos

ure/

use

of fin

ancia

l der

ivativ

es

Inve

stmen

t man

agem

ent s

ervic

es/st

ructu

re

29%

19%

15%14%

12% 11%13%

22%

16%18%

16% 15%

26%

20%

15%13%

16%

10%

2013 2012 2011

*Chart displaying proportion of members ranking most serious ethical issues facing local markets.

PLEASE RANK THE FOLLOWING ETHICAL ISSUES FACING YOUR LOCAL MARKET IN THE COMING YEAR IN ORDER OF THE MOST SERIOUS (1) TO THE LEAST SERIOUS (6)*

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ABOUT THIS SURVEY

The CFA Institute Global Market Sentiment Survey was created to seek input from CFA Institute members and gather feedback on market sentiment, performance, and market integrity issues in 2013, and to further our mission of promoting ethical and trustworthy investment markets.

METHODOLOGY

An online survey was conducted from 30 October to 13 November 2012. All CFA Institute members globally (over 115,000) were invited to participate in the survey; 6,783 responded, for an overall response rate of 6% and a margin of error of ±1.2%. In addition to analysis and reporting at the global, regional, and advanced vs. developing economies level, 22 countries are also included in this report. To view survey questionnaire please click here.

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ABOUT CFA INSTITUTE

CFA Institute is the global association of investment professionals that sets the standard for professional excellence and credentials. The organization is a champion for ethical behavior in investment markets and a respected source of knowledge in the global financial community. The end goal: to create an environment where investors’ interests come first, markets function at their best, and economies grow. CFA Institute has more than 110,000 members in 138 countries and territories, including over 103,000 CFA charterholders, and 138 member societies. For more information, visit www.cfainstitute.org.

QUESTIONS?

Media inquiries:

J.D. McCartney

Director, Public Relations, The Americas

[email protected]

Survey inquiries:

Melissa Looney

Director, Market Intelligence

[email protected]

To view and download full report, please visit

http://www.cfainstitute.org/about/research/surveys/Pages/global_market_sentiment_survey_2013.aspx