BofAML survey: 'Skittish' investors shunning equities despite improved risk appetite
Equities overweight down to 3%
The survey found investors are typically long defensives and rate-sensitive assets, and short cyclicals
Investors' exposure to global equities fell to their lowest level since December 2016 in March despite reduced cash balances suggesting an increased risk appetite, the latest Bank of America Merrill Lynch (BofAML) Global Fund Manager survey shows.
BofAML said "skittish" investors are now 3% overweight global equities, while cash balances have fallen to 4.6% and allocations to cash have declined four percentage points to net 40% overweight, down...
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