BofA_Asia Fund Manager Survey February FMS- don’t change a winning combination_-240213

Accessibleversion13February2024AsiaFundManagerSurveyPredictiveAnalyticsAsiaFebruaryFMS:don’tchangeawinningcombinationRiteshSamadhiya,CFA>>EquityStrategistSignsofabreak-out(ex-China)MerrillLynch(HongKong)+85235087907TheGlobalFundManagerSurvey(FMS)viewoftheglobaleconomyhasrisentoa2-yearritesh.samadhiya@bofa.comhighafteraprotractedperiodofgloom,echoingtheoptimismofourproprietarygrowthAritraBaksi,CFA>>indicators.SeeBofAGPS:Anatomyofabullmarket30January2024.TheoutlookfortheEquityStrategistregionaleconomymovedupintandem,withnet29%expectingastrongerAPACex-MerrillLynch(HongKong)Japaneconomy(highestsinceAugust),andnet54%astrongerJapaneconomyinthenext+8523508791412months.Theloneexception:China,buckingthetrendwithmoreparticipantsinfavoraritra.baksi@bofa.comofaweakeningratherthanastrengtheningintheyearaheadforthefirsttimesincetheMasashiAkutsu>>launchofthisperiodical17monthsago.StrategistBofASJapanYet,returnexpectationshavesoftened+81362257754masashi.akutsu@bofa.comSurprisingly,inanapparentdisconnect,thereturnexpectationsfortheregionhaveTonyLin,CFA>>melloweddownanotch,likelyduetotheunderwhelmingYTDperformanceofindexEquityStrategistheavyweightChina.ThemoderationwasdrivenbyadipinboththeprofitsoutlookasBofASJapanwellastheundervaluationperceptionoftheregionalequitymarkets.+81362258123tony.y.lin@bofa.comAcuteapathyonChinaFMS:...