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ASR Q4 Asset Allocation Survey

  • This is the most bullish result we have seen in the 6 years of the Survey running. 

  • It is also the one with the highest level of conviction, and the one with the greatest risk of ‘Groupthink’. 

  • There are 14 record implied probabilities… 

  • …and also 2 questions that clash - Investors see no valuation risk in equities despite a growing conviction that bond yields will be higher, and despite enthusiasm for global reflation and Value beating Growth, investors only grudgingly accept that non-US equities could beat US equities: they are unconvinced that Global Banks can outperform Global Tech.   

  • Policymakers should be worried about this Survey....As it raises the question whether the decline in rates / doubling of the Fed’s balance sheet has generated so much liquidity, that it risks creating a bubble in risk assets. 

  • For a full insight into the survey’s findings, along with our work more broadly – Please get in touch with ASR’s Sales team for a trial of our work! 

Click HERE to read the full report. 

ASR Q4 Asset Allocation Survey
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