Fifty-seven percent of money managers view the market as undervalued, Russell Investments found in its latest survey, of 170 senior-level managers. This is the second-highest percentage in survey history. Only 7% of managers believe markets are overvalued.
“With more conviction that at any point since the depths of the global credit crisis, managers now believe the market to be undervalued,” said Mark Eibel, director of client investment strategies at Russell. “The most positive managers may be holding out hope that a tidal change is beginning to gather momentum, one built on strong corporate earnings and a recovering economy.”