BoA/ML survey of fund managers shows cash holdings highest since Nov. 2001
17 June 2016, 07:28
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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
