Investor Confidence Increased in February by 2.5 Points to 77.9

Wednesday, February 26, 2020 10:00 am EST


"While this month’s ICI covers investor activity through February 19, the impact of COVID-19 on institutional risk appetite appears to be localized for now"

State Street Global Markets today released the results of the State Street Investor Confidence Index® (ICI) for February 2020.

The Global Investor Confidence Index increased to 77.9, up 2.5 points from January’s revised reading of 75.4. The North American ICI increased 2.4 points to 68.6 and the European ICI rose from 105.7 to 111.1, a 5.4 point gain. However, the Asian ICI dropped significantly from 95.5 to 83.6, a decrease of 11.9 points.

The Investor Confidence Index was developed at State Street Associates, State Street Global Markets research and advisory services business, in partnership with FDO Partners. It measures investor confidence or risk appetite quantitatively by analyzing the actual buying and selling patterns of institutional investors. The index assigns a precise meaning to changes in investor risk appetite: the greater the percentage allocation to equities, the higher risk appetite or confidence. A reading of 100 is neutral; it is the level at which investors are neither increasing nor decreasing their long-term allocations to risky assets. The index differs from survey-based measures in that it is based on the actual trades, as opposed to opinions, of institutional investors.

“While this month’s ICI covers investor activity through February 19, the impact of COVID-19 on institutional risk appetite appears to be localized for now,” commented Rajeev Bhargava, Managing Director and head of Investor Behavior Research, State Street Associates. “Sentiment for the Asian region contracted noticeably in February with the Asia ICI slipping more than 10 points to 83.6, likely driven by a deteriorating economic outlook stemming from China. However, the spillover into Europe and the US, for now, appears largely contained, with risk appetite for Europe increasing further above the neutral line, possibly a result of greater clarity post Brexit. However, with new COVID-19 cases now being reported outside of China, it will be vital to see if investor concerns turn global in upcoming months.”

The index is released globally at 10 a.m. Eastern time in Boston on the last Wednesday of each month. More information on the State Street Investor Confidence Index is available at

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