BOSTON--(BUSINESS WIRE)--
State Street Global Markets, the investment research and trading
arm of State Street Corporation (NYSE:STT), today released the results
of the State Street Investor Confidence Index(R) for April 2008.
Global Investor Confidence fell by 4.4 points to 72.8 from a
revised March level of 77.2. Amongst North American investors,
confidence fell 4.9 points from 83.2 to 78.3. European investors were
even more pessimistic, and their risk appetite declined by from 87.7
to 76.8. Asian investors, however, were somewhat less gloomy and their
confidence saw only a modest decline from 87.9 to 86.2.
Developed through State Street Global Markets' research
partnership, State Street Associates, by Harvard University professor
Ken Froot and State Street Associates Director Paul O'Connell, the
State Street Investor Confidence Index measures investor confidence on
a quantitative basis by analyzing the actual buying and selling
patterns of institutional investors. The index is based on financial
theory that assigns precise meaning to changes in investor risk
appetite, or the willingness of investors to allocate their portfolios
to equities. The more of their portfolio that institutional investors
are willing to devote to equities, the greater their risk appetite or
confidence.
"After recovering somewhat over the last quarter, global
institutional risk appetite fell back towards its February level this
month," commented Froot. "As we said last month, the recent moves off
the December low of 65.9 were relatively modest, and indicate that
while institutional investors see some value in the current prices of
risky assets, they continue to have some trepidation."
"European investors led the field lower this month, as their
confidence fell to levels last seen in 2005," added O'Connell. "This
may reflect an underlying sense that Europe may not be as 'de-coupled'
from the slow-down currently underway in the US as some have said.
April Results
Global 72.8
N. America 78.3
Europe 76.8
Asia-Pacific 86.2
About State Street Global Markets:
State Street Global Markets provides specialized investment
research and trading in foreign exchange, equities, fixed income and
derivatives. Its goal is to enhance and preserve portfolio values for
asset managers and asset owners. From its unique position at the
crossroads of the global markets, it creates and unlocks value for its
clients with original flow-based research, innovative portfolio
strategies, trade process optimization, and global connectivity across
multiple asset classes and markets.
State Street Global Markets' research team of leading academic and
industry experts is committed to continually advancing the science,
including theory and application of its proprietary investor behavior
research and innovative portfolio & risk management technologies to
help its clients challenge conventional thinking, shape ideas, make
more informed investment decisions and deliver measurable results.
About the State Street Investor Confidence Index(R):
The index is released globally at 10 a.m. Eastern time in Boston
on the second to last Tuesday of each month. More information on the
State Street Investor Confidence Index, including frequently asked
questions and a calendar of release dates, is available at
http://www.statestreet.com/investorconfidenceindex. The previous
month's calculations for the index are revised to account for trading
activity through the end of the reporting period.
About State Street:
State Street Corporation (NYSE: STT) is the world's leading
provider of financial services to institutional investors including
investment servicing, investment management and investment research
and trading. With $15 trillion in assets under custody and $2 trillion
in assets under management at March 31, 2008, State Street operates in
26 countries and more than 100 geographic markets worldwide. For more
information, visit State Street's web site at www.statestreet.com.
This news announcement contains forward-looking statements as
defined by United States securities laws, including statements about
the financial outlook and business environment. Those statements are
based on current expectations and involve a number of risks and
uncertainties, including those related to the pace at which State
Street adds new clients or at which existing clients use additional
services, the value of global and regional financial markets, the pace
of cross-border investment activity, changes in interest rates, the
pace of worldwide economic growth and rates of inflation, the extent
of volatility in currency markets, consolidations among clients and
competitors, State Street's business mix, the dynamics of markets
State Street serves, and State Street's success at integrating and
converting acquisitions into its business. Other important factors
that could cause actual results to differ materially from those
indicated by any forward-looking statements are set forth in State
Street's 2007 annual report and subsequent SEC filings. State Street
encourages investors to read the corporation's annual report,
particularly the section on factors that may affect financial results,
and its subsequent SEC filings for additional information with respect
to any forward-looking statements and prior to making any investment
decision. The forward-looking statements contained in this press
release speak only as of the date hereof, April 22, 2008, and the
company will not undertake efforts to revise those forward-looking
statements to reflect events after this date.
Source: State Street Corporation
Contact: State Street Corporation
Marie McGehee, + 1 617-664-1898