Following a brief period in which actively managed funds were overweight the Tech sector relative to the wider market, Tech has now fallen to the second most popular position behind Discretionary according to Bank of America Merrill Lynch's latest active managers' holding update.
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According to the update, active managers cut their relative position in Tech to the lowest level in 15 months last month, while increasing exposure to discretionary stocks from 1.2x to 1.22x. Tech fell from 1.23x to 1.18x. This readjustment ended Tech's brief status is the most...
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