Investor Confidence Index Falls from 77.2 to 72.8 in AprilInvestor Confidence Index Falls from 77.2 to 72.8 in April
April 22 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 April
2008. Global Investor Confidence fell by 4.4 points to 72.8 from a
revised March level of 77.2. Amongst North American investors,
confidence fell 4.9 points from 83.2 to 78.3. European investors
were even more pessimistic, and their risk appetite declined by
from 87.7 to 76.8. Asian investors, however, were somewhat less
gloomy and their confidence saw only a modest decline from 87.9 to
86.2. 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. �After
recovering somewhat over the last quarter, global institutional
risk appetite fell back towards its February level this month,�
commented Froot. �As we said last month, the recent moves off the
December low of 65.9 were relatively modest, and indicate that
while institutional investors see some value in the current prices
of risky assets, they continue to have some trepidation.� �European
investors led the field lower this month, as their confidence fell
to levels last seen in 2005,� added O�Connell. �This may reflect an
underlying sense that Europe may not be as �de-coupled� from the
slow-down currently underway in the US as some have said. April
Results Global 72.8 N. America 78.3 Europe 76.8 Asia-Pacific 86.2
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 trillion in assets under
custody and $2 trillion in assets under management at March 31,
2008, 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 2007 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, April 22, 2008, and the company will
not undertake efforts to revise those forward-looking statements to
reflect events after this date.
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