The “widespread optimism” showed by the investment community in September 200, has been replaced by “cautious optimism”, according to the findings of the Investment Confidence Index (ICI) of JP Morgan Asset Management India and market research company Valuenotes.
The index captures the confidence of retail, corporate and financial advisors about the country’s economic and investment environment.
“The results of the third wave of the investment confidence survey suggest a sense of measured optimism from the financial community. The results indicate that a range of macro-economic factors has affected corporates and advisors while retail investors continue to be optimistic,” said Christopher Spelman, chief executive officer, J.P. Morgan Asset Management said.
The index was launched in August 2009 and is published on a quarterly basis.
The ICI was developed by interviewing a random sample of retail investors (with a wallet size more than Rs 2,00,000), corporate investors and financial advisers.
The survey took place in February 2010 in eight cities across India including Mumbai, Delhi/NAtional Capital Region, Kolkata, Chennai, Ahmedabad, Bengaluru, Pune and Hyderabad.