BoAML monthly survey of fund managers, shows them embracing 'risk'

Author: Eamonn Sheridan | Category: News

A bit of an ICYMI on this from Bank of America / Merrill Lynch monthly survey

In summary:
  • greater allocations to equities, Europe, industrials and banks
  • reduced out of bonds, REITs, utilities and staples
  • allocation to technology +4 points to net 25% overweight
  • global equities 10% overweight
Nevertheless
  • "Expectations of an earnings recession and debt deflation still dominate sentiment" 
  • cash balance fell to 5.2% (from 5.6)
  • investor allocation to cash-2% to 41% …. net 41 per cent overweight & well above long-term average

Most crowded trades
  • long US Treasuries
  • long US technology stocks
  • long investment grade corporate bonds
 
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