Institutional investors are less confident this month than they were in April, according to State Street.
The State Street Investor Confidence Index fell to 91.2 from last month’s revised reading of 93.0.
“This month saw a slight see-saw in flows,” says State Street Associates director Paul O’Connell, “as institutional investors evinced caution in the early part of May before returning in strength to a broad array of global equity markets in the most recent weeks.”
On a regional basis, the confidence of North American institutional investors decreased to 99.9 from 102.6, but confidence improved elsewhere, with European sentiment seeing an improvement to 94.2 from 90.5, and Asian sentiment rising to 84.3 from 81.7.
The index measures investor confidence on a quantitative basis, analyzing actual buying and selling patterns of institutional investors. The more of the portfolio that institutional investors are willing to devote to equities, the greater their confidence.
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