Record number of investors see developed market equities as overvalued

According to CFA UK's Valuation Index

A record 71% of investors said they believed developed market equities were overpriced in the final quarter of 2016, according to the CFA UK's latest Valuation Index.

The quarterly index, which surveyed 225 analysts and investors in Q4 2016, has seen the perception of developed market equities as overvalued reach a record high for three consecutive quarters, up from just 40% viewing the asset class as overvalued in Q1. Similarly, just 10% of respondents said the asset class was undervalued in Q4, down from 27% at the start of 2016. Investors' perception of global bonds as too expensive also continued in the fourth quarter, with 78% of respondents calling both government and corporate bonds overvalued, while just 6% said each asset class was underva...