LONDON (Reuters) - Confidence among global institutional investors has fallen this month, driven by a sharp drop in confidence among North American investors, State Street said on Tuesday.
The U.S. financial services firm said its global confidence index fell to 99.2 from May's revised reading of 104.3, following a rise in confidence last month.
Confidence among North American institutional investors fell to 100.4 from 106.2.
A reading of 100 is neutral, indicating that investors are neither increasing nor decreasing their positions in risky assets.
"This month saw the release of a number of indicators that offered further confirmation that global growth has slowed," said Harvard Professor Kenneth Froot, a co-developer of the index.
"In the U.S., policymakers pointed to Japanese supply disruption and elevated natural resource prices as potential culprits, but beyond these concerns there is the prospect of further slowdown in China to consider, as well as the difficulties surrounding Greek sovereign debt."
Asian institutional investor confidence dropped to 93.2 from 96.9 but confidence among European investors rose to 87.9 from 79.4.
The indexes are drawn from movements in the roughly $22.6 trillion worth of assets State Street holds as custodian and administrator for institutional investors.
(Reporting by Carolyn Cohn)