The survey, which asked advisers to rate their confidence in markets out of 10, found that on average advisers’ confidence in the global economy was down 6.3% on Q1 2014 to reach six out of 10, while their confidence in local markets fell by 9.1% to also reach six out of 10.
Singapore’s advisers were the least confident in the global economy, rating it 5.7 out of 10, 14.9% lower than Q1 2014.
Meanwhile, advisers in Europe had the least confidence in their local economy, giving it five out of 10, down 5.7% from last year.
David Bowden, investment solutions expert at Old Mutual Wealth, said: “Looking at the wider economic picture you can understand why confidence has faltered slightly.
“Most economies seem to have had some challenges including the continuing uncertainty in Europe, the uncertainty inherent in the general election in the UK, Chinese economic growth slowing to its slowest pace since 1990, and the IMF downgrading its global economic growth forecast by 0.3% to 3.5%.
“However, in-between the negative headlines there are signs of positivity, such as QE finally being rolled out in Europe and Chinese growth, whilst slowing, is still expected to be over 5%, suggesting global growth is not collapsing.”
