Markets

BoA/ML survey of fund managers shows cash holdings highest since Nov. 2001

Bank of America Merrill Lynch's monthly fund manager survey

Its found cash allocations amongst the managers are now at a 15-year high, highest since November of 2001

  • At 5.7% (was 5.5% the previous month)

Allocations to shares are at their lowest for 4 years

  • only 1% are those surveyed are overweight equities, prior month was 6%

BofAML chief investment strategist Michael Hartnett says the managers may be awaiting a dip on the Brexit vote to buy back in:

  • "Negative summer 'events' could thus quickly become tradeable buying opportunities"

--

The survey had 213 respondents

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx