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A Merrill Lynch survey conducted in July shows more than 10 percent of mutual fund managers have a pessimistic view on the world economy. This is the first time so many respondents have expressed their concerns about the economy since February 2009.
The 202 fund managers interviewed manage 530 billion U.S. dollars worth of investment. The survey also shows that about 4 percent managers say profit levels will be much worse. The survey shows increasing concerns about the U.S. stock market, and growing attention being shifted to Europe and new emerging markets.
About 34 percent of the fund managers surveyed invest in new emerging markets, increasing about 15 percent month on month.