For the first time in six years, fund managers believe that the outlook for the global economy is looking up, and fund managers are upping their equity allocation as a result.
According to Bank of America's monthly Global Fund Manager Survey, 48% of respondents (up 5%) believe that over the next 12 months the global economy is heading into a "Goldilocks" period of above-trend growth and below-trend inflation. 34% of respondents believe that the economy will face below-trend growth and inflation.
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