Fund managers on defensive

(Market Watch): Expectations of a global economic recession have risen sharply, and risk aversion has reached a new high, according to Merrill Lynch’s Survey of Fund Managers for September. It found that 61 percent of respondents now believe a recession is likely in the next 12 months and investors have moved to their most risk-averse mindset yet recorded. The survey also shows that investors have adopted more defensive strategies and shortened their investment time horizons. Go to article