More Smiles, Wary on Growth

(Wall Street Journal) — Money managers world-wide are optimistic about prospects for the U.S. and Asian stock markets over the next 12 months, but they nevertheless project a slow recovery in global economic growth, according to a new survey. The impact of inflation is a fear, indicated the 102 global mutual-fund, hedge-fund and private-equity managers who responded to the survey, commissioned by RBC Capital Markets, the corporate and investment banking arm of Royal Bank of Canada, and released Monday. The respondents, who manage about $4.1 trillion in combined assets, also expressed skepticism about commercial real estate.

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