S&P Global Investment Manager Index Survey Insights

The document is a technical report detailing the S&P Global Investment Manager Index (IMI), which is derived from survey responses of active investment managers regarding their views on US equities. It outlines the purpose of the IMI, which is to provide insights into market sentiment, risk appetite, expected returns, and sector preferences among investment managers. The IMI is based on a monthly survey of nearly 300 participants managing approximately $3,500 billion in assets. The report explains the methodology of the survey, including regular and quarterly questions that assess investment attitudes, risk tolerance, and market performance drivers. Additionally, it discusses the correlation between the IMI's Expected Returns Index and the S&P 500 index, indicating its potential as a predictive tool for market trends. The report also highlights sector preferences and their implications for sector rotation strategies, supported by back-testing results that suggest the IMI can enhance investment decision-making.