CHINA SLOWDOWN AN INCREASING CONCERN FOR GLOBAL FUND MANAGERS - BoA SURVEY

BEIJING – The May monthly survey of global fund managers by Bank of America Merrill Lynch found that a quarter of respondents see a hard landing in China and a commodity collapse as their number one "tail risk", an increase from 18% in April. A total of 231 respondents with US$661 billion of assets under management participated in the survey, which indicates China’s economic slowdown is beginning to rival the European debt crisis (which dropped on the survey from 42% to 29%) in terms of concern to fund managers.