Almost half of institutional investors are bearish towards the market in 2016, according to a Hartford firm’s research. More troubling might be the finding that 70 percent believe a recession will take place within three years.
Corbin Perception, an investor research and investor relations advisory firm, released the research as part of its quarterly global research report of 73 institutional investors managing a combined $1.8 trillion in assets.
“We are entering a new reality that the market was previously reluctant to accept,” Rebecca Corbin, founder and managing partner of Corbin Perception, said in a statement. “Our research shows that institutional investors believe 2016 will be a muted year and therefore a stock picker’s market has emerged.
The report also said technology and financials ranked as the most bullish sectors while materials, energy and industrials were the sectors with the most negative sentiment. Institutional investors’ views on consumer staples were mixed.
