Fund managers turn bullish despite China fears

A net 72% of the 180 managers surveyed (who together run $516bn of assets) now expect the world's economy to pick up over the next 12 months - the survey's strongest reading in nearly four years and up 20% from July's figure. More than half of respondents identified the hard landing in China as the biggest tail risk, although a net 32% of managers expect China's economic growth to be weaker, an improvement from a net 65% last month. European managers have also become more bullish. A total of 88% of managers now anticipate the region strengthening in the year ahead, twice the level rec...