BofAML survey: US equity exposure reaches three-year high as investors 'flock to safe havens'
Net 19% overweight
Allocations to US equities have reached a three-year high, according to BofAML
Investors are retaining a cautious outlook in August, holding higher than average weightings to cash and US equities, while selling exposure to commodities and UK equities, according to the latest Bank of America Merrill Lynch (BofAML) global research report.
The survey of 243 fund managers globally, carried out between 3-9 August, also found the average cash balance had risen from 4.7% in July to 5%, higher than the ten-year average of 4.5%. BofAML said...
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