Investor Confidence Index Rises from 69.5 to 73.0 in February
February 19 2008 - 10:00AM
Business Wire
State Street Global Markets, the investment research and trading
arm of State Street Corporation (NYSE:STT), today released the
results of the State Street Investor Confidence Index� for February
2008. Global Investor Confidence rose by 3.5 points from a revised
January level of 69.5 to reach 73.0. Amongst North American
investors, confidence rose 6.0 points from 72.2 to 78.2, but
elsewhere, risk appetite was more muted, with European investor
confidence falling from 85.8 to 83.7, and Asian investor confidence
treading water barely rising from 85.4 to 85.7. Developed through
State Street Global Markets� research partnership, State Street
Associates, by Harvard University professor Ken Froot and State
Street Associates Director Paul O�Connell, the State Street
Investor Confidence Index measures investor confidence on a
quantitative basis by analyzing the actual buying and selling
patterns of institutional investors. The index is based on
financial theory that assigns precise meaning to changes in
investor risk appetite, or the willingness of investors to allocate
their portfolios to equities. The more of their portfolio that
institutional investors are willing to devote to equities, the
greater their risk appetite or confidence. �This month saw a
continuation of the modest improvement in Global Investor
confidence that we witnessed in January,� commented Froot. �The
small increase of 3.5 points takes place against the backdrop of a
decline in market volatility from the very high levels witnessed
earlier this winter, and reflects an understanding that, while many
risks remain, the extreme risk-aversion displayed by institutions
in late 2007 was perhaps overdone.� �Looking across the data, we
continue to see a fair degree of restraint amongst institutional
investors, but this is balanced against a willingness to take on
select risks,� added O�Connell. �Country and sector allocations
retain a defensive posture, but recent flows into market segments
such as Latin America and global financials indicate a somewhat
improved risk appetitive.� February Results � Global 73.0 N.
America 78.2 Europe 83.7 Asia-Pacific 85.7 About State Street
Global Markets: State Street Global Markets provides specialized
investment research and trading in foreign exchange, equities,
fixed income and derivatives. Its goal is to enhance and preserve
portfolio values for asset managers and asset owners. From its
unique position at the crossroads of the global markets, it creates
and unlocks value for its clients with original flow-based
research, innovative portfolio strategies, trade process
optimization, and global connectivity across multiple asset classes
and markets. State Street Global Markets� research team of leading
academic and industry experts is committed to continually advancing
the science, including theory and application of its proprietary
investor behavior research and innovative portfolio & risk
management technologies to help its clients challenge conventional
thinking, shape ideas, make more informed investment decisions and
deliver measurable results. About the State Street Investor
Confidence Index�: The index is released globally at 10 a.m.
Eastern time in Boston on the second to last Tuesday of each month.
More information on the State Street Investor Confidence Index,
including frequently asked questions and a calendar of release
dates, is available at
http://www.statestreet.com/investorconfidenceindex. The previous
month�s calculations for the index are revised to account for
trading activity through the end of the reporting period. About
State Street: State Street Corporation (NYSE: STT) is the world's
leading provider of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $15.3 trillion in assets
under custody and $2 trillion in assets under management at
December 31, 2007, State Street operates in 26 countries and more
than 100 geographic markets worldwide. For more information, visit
State Street�s web site at www.statestreet.com. This news
announcement contains forward-looking statements as defined by
United States securities laws, including statements about the
financial outlook and business environment. Those statements are
based on current expectations and involve a number of risks and
uncertainties, including those related to the pace at which State
Street adds new clients or at which existing clients use additional
services, the value of global and regional financial markets, the
pace of cross-border investment activity, changes in interest
rates, the pace of worldwide economic growth and rates of
inflation, the extent of volatility in currency markets,
consolidations among clients and competitors, State Street�s
business mix, the dynamics of markets State Street serves, and
State Street�s success at integrating and converting acquisitions
into its business. Other important factors that could cause actual
results to differ materially from those indicated by any
forward-looking statements are set forth in State Street's 2006
annual report and subsequent SEC filings. State Street encourages
investors to read the corporation's annual report, particularly the
section on factors that may affect financial results, and its
subsequent SEC filings for additional information with respect to
any forward-looking statements and prior to making any investment
decision. The forward-looking statements contained in this press
release speak only as of the date hereof, February 19, 2008, and
the company will not undertake efforts to revise those
forward-looking statements to reflect events after this date.
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