Institutional investor confidence worldwide rose in April, according to the State Street Investor Confidence Index (ICI).
The global ICI increased 5.5 points to 93.6 from March’s revised reading of 88.1. Most of the gain was due to a surge in confidence among North American institutions. Confidence rose 10.2 points to 105.8.
“The North American ICI is now at its strongest level since May 2011,” says Paul O’Connell of State Street Associates.
In other regions, confidence among European and Asian institutions fell slightly. The European ICI fell 3.9 points to 87.8; the Asian ICI declined 2.1 points to 85.2.
The index measures investor confidence on a quantitative basis, analyzing actual buying and selling patterns of institutional investors. The greater the percentage allocated to equities, the greater their confidence.