Investor Confidence Index Rises from 80.9 to 81.4 in JuneInvestor Confidence Index Rises from 80.9 to 81.4 in June (Graph: Busin
June 17 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 June
2008. Global Investor Confidence rose by 0.5 points to 81.4 from a
revised May level of 80.9. Looking regionally, the confidence of
North American institutional investors increased slightly from 83.5
to 85.2. European investor confidence rose more significantly from
73.4 to 81.6. The confidence of Asian investors fell by 5.8 points
to 79.4. 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. �While not
quite as big as the bounce seen after August 2007, this month�s
increase is important,� commented Froot. �In spite of the distinct
sources of risk that we see � energy prices, inflation in the US
and other developed countries, rapidly weakening real estate
markets, and global real economic slowdown, institutional investors
overall are cautiously finding value at current price levels. While
sentiment, particularly in the US remains low, it is now well above
the all-time low points the index has witnessed in the last year.�
�European confidence is stronger this month, perhaps reflecting
that the ECB is likely to take a more pragmatic role in responding
to the elevated levels of inflation that plague Europe,� added
O�Connell. �The situation in Asia, however, is quite a bit more
pessimistic. For the first time since the scare of early 2006,
Asian investors are processing the choice between more currency
adjustment or greater inflation over the coming year. Neither is
going to be easy -- it�s a timely and sobering reckoning that is
taking place.� June Results � Global � 81.4 N. America 85.2 Europe
81.6 Asia-Pacific 79.4 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, June 17, 2008, and the company will not
undertake efforts to revise those forward-looking statements to
reflect events after this date.
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