After great consideration, NAAIM has decided to change the name of its weekly manager survey.
The survey will now be known as the NAAIM Exposure Index, a name change which the association thinks will better reflect the survey’s intent, which is to average our member’s exposure to US Equity markets. The weekly survey average has also been referred to as the “NAAIM Number”, both on the NAAIM website and in association communications such as the Active Manager newsletter and the weekly NAAIM News digest.
NAAIM started the survey of its member money managers in 2006. Since that time, it has become a known indicator to many analysts and other followers. By changing its name, NAAIM hopes to increase its profile and usage among those in the industry, members and analysts alike.
Dave Moenning, NAAIM President, often provides analysis of the Exposure Index on his website, StateofTheMarkets.com. Here he reflects on the most current reading and what it could mean to traders and investors:
This week’s NAAIM Member Exposure Average is: 70.94%
Analysis of the Data:
Our analysis of the data shows this to be a moderately bullish level of exposure for NAAIM managers but a significant pullback from last week’s reading of 95.13%.
“This is an excellent example of how active risk managers adapt (and oftentimes very quickly) to a changing market environment,” said NAAIM President, Dave Moenning. “Risk has clearly increased in the market recently due to worries over the emerging markets. As a result, NAAIM’s active risk managers adjusted their overall exposure accordingly.”