Seven in 10 Singapore fund managers see 10-20% upside to Asian equities in 2023

FUND managers in Singapore are upbeat about Asian equity and credit markets in 2023, going by a survey that polled more than 50 C-suite and key personnel from fund houses with combined assets under management of some US$30 trillion globally late last year.

The survey conducted by the Investment Management Association of Singapore (IMAS) asked the asset managers for their end of 2023 market calls, and the area that drew the strongest consensus was the outlook of the MSCI AC Asia Ex Japan Index.

Seven in 10 are expecting a solid 10 to 20 per cent recovery in equities from this indicator – which captures large- and mid-cap representation across 10 markets in Asia, excluding Japan.

Asked for their outlook of Asian credit, about half believe the year will see a 50 to 100 basis point drop in yield to the JP Morgan Asian Credit Index, revealing broad optimism that prices will go up.

The asset managers were more split on their views of oil prices, with 41 per cent banking on prices staying largely unchanged, while 27 per cent believe that the commodity will rise 5 to 10 per cent.

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Source : businesstimes.com