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POLL-China funds raise suggested equity exposure to 18-month high
December 30, 2016 / 7:16 AM / a year ago

POLL-China funds raise suggested equity exposure to 18-month high

* For accompanying table, click on

SHANGHAI, Dec 30 (Reuters) - Chinese fund managers raised suggested equity exposure for the next three months to the highest level in 1-1/2 years, betting stocks will rise next year after the market’s recent consolidation, a monthly Reuters poll showed.

The fund managers increased their suggested equity allocations to 78.1 percent, according to a poll of eight China-based fund managers conducted this week, up from 76.9 percent a month earlier and the highest since June 2015’s 83.1 percent.

Meanwhile, the fund managers lifted their suggested bond allocation for the coming three months to 6.3 percent from 3.8 percent a month ago.

Recommended cash allocations have dropped to 15.6 percent from 19.4 percent in the previous month.

One fund manager said that market confidence is improving because the economy is stabilizing, while property purchase restrictions and signs of froth in the bond market have made stocks more appealing.

The fund managers have recommended sharply higher allocation to consumer stocks, but slightly lower exposure to technology and financial shares, reflecting their relatively defensive strategy.

-------------------------------------------------------------- To see other polls in this series, click on: GB/ASSET - Reuters Britain-based asset allocation survey US/ASSET - Reuters U.S.-based asset allocation survey JP/ASSET - Reuters Japan-based asset allocation survey EUR/ASSET - Reuters Continental Europe-based asset allocation survey (Reporting by David Lin, Jackie Cai and John Ruwitch; Editing by Biju Dwarakanath)

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