Thought Leadership

Investors in the UK and US show mixed feelings on investment outlook over next 12 months

14 September 2023

  • 48% of UK professional investors are optimistic compared to 42% in the US
  • More Americans (47%) believe global macroeconomic shocks will have a bigger impact on markets over 12 months, while most Brits (43%) believe shocks’ impact will be lesser
  • The young are far more optimistic than the older age groups

Fulcrum Asset Management (Fulcrum) has released new research1 comparing views from professional investors on both sides of the Atlantic on the macroeconomic outlook and how these views play into investment decisions.

The researchers surveyed a panel of IFAs, wealth managers and institutional investors in the UK and Registered Investment Advisors (RIAs), and other financial advisers and wealth managers in the US.

The results show some disparity, suggesting that UK investors are more optimistic (48% optimistic) about the investment outlook than the North American cohort (42% optimistic); with those identifying as ‘pessimistic’ numbered at 40% in the UK and 46% in the US. 

Breaking down the data further, there are some stark differences among the different age groups. When looking across both jurisdictions, of the 25-34 age group, 58% of respondents were optimistic about the next 12 months, compared with just 17% amongst the 55+ age category. Indeed, pessimism appears to increase with age.

Question: “How do you currently feel about the overall investment outlook for the next 12 months?”  by age, across both the UK and US

When it came to global macroeconomic shocks and their impact on markets over the next 12 months compared with the previous 12, the US cohort was once again a lot more negative than their UK counterparts with nearly half, 47%, saying that they expected shocks to have a greater impact on markets during the next 12 months against only 37% of Brits. In the UK, most respondents (43%) thought the impact would be lesser, whereas in the US this number was 36%.

Commenting on the results, Joe Davidson, Managing Partner, Fulcrum Asset Management, said:

After the volatility experienced in recent years, it is not surprising that there is no blanket optimism from respondents on either side of the Pond. It’s interesting to note that the exuberance of youth seems to be a real thing, with a positive attitude prevailing.

“Things can of course change quickly and the need for a disciplined investment process and effective risk management is of huge importance given today’s unstable environment.”

About the Author

  1. Findings are based on a survey from independent research consultancy, Censuswide, conducted between 30.05.23-05.06.23 with a sample of 205 Professional Investors (breakdown: 105 respondents in the UK and 100 respondents in the US.) Censuswide is a member of ESOMAR – a global association and voice of the data, research and insights industry. Censuswide complies with the MRS code of conduct based on ESOMAR principles.

This content is provided for informational purposes and is directed at professional clients as defined in Directive 2011/61/EU (AIFMD) and Directive 2014/65/EU (MiFID II) Annex II Section I or Section II or an investor with an equivalent status as defined by your local jurisdiction.  Fulcrum Asset Management LLP (“Fulcrum”) does not produce independent Investment Research and any content disseminated is not prepared in accordance with legal requirements designed to promote the independence of investment research and as such should be deemed as marketing communications.  This document is also considered to be a minor non-monetary (‘MNMB’) benefit under Directive 2014/65/EU on Markets in Financial Instruments Directive (‘MiFID II’) which transposed into UK domestic law under the Financial Services and Markets Act 2000 (as amended). Fulcrum defines MNMBs as documentation relating to a financial instrument or an investment service which is generic in nature and may be simultaneously made available to any investment firm wishing to receive it or to the general public. The following information may have been disseminated in conferences, seminars and other training events on the benefits and features of a specific financial instrument or an investment service provided by Fulcrum.Any views and opinions expressed are for informational and/or similarly educational purposes only and are a reflection of the author’s best judgment, based upon information available at the time obtained from sources believed to be reliable and providing information in good faith, but no responsibility is accepted for any errors or omissions. Charts and graphs provided herein are for illustrative purposes only. The information contained herein is only as current as of the date indicated, and may be superseded by subsequent market events or for other reasons. Some of the statements may be forward-looking statements or statements of future expectations based on the currently available information. Accordingly, such statements are subject to risks and uncertainties. For example, factors such as the development of macroeconomic conditions, future market conditions, unusual catastrophic loss events, changes in the capital markets and other circumstances may cause the actual events or results to be materially different from those anticipated by such statements. In no case whatsoever will Fulcrum be liable to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release or for any related damages. Reproduction of this material in whole or in part is strictly prohibited without prior written permission of Fulcrum Copyright © Fulcrum Asset Management LLP 2024. All rights reserved.

FC261 110923

Share this article

Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Share on email
Your privacy

Cookies are data files that are stored on your computer or other smart device by a website’s server. Each cookie is unique to your web browser. It will contain some anonymous information such as a unique identifier, website’s domain name, and some digits and numbers. Cookies are useful as they allow us to recognise a user’s device and its preferences in order to ensure that our website works properly. By continuing to use this website, you consent to the use of our cookies.


You can find out the different types of cookies used on our website in our Cookies and Data Privacy Policies.

Necessary cookies