Fund managers are once again increasing their cash allocations to defend against increasing uncertainty; that’s the key takeaway from Bank of America Merrill Lynch’s monthly Global Fund Manager Survey.
The survey, which was conducted during the second week of October with 213 panelists managing a combined $563 billion, revealed that the respondents’ average cash level jumped from 5.5% during September to 5.8% at the beginning of October. The last time cash allocations if this level was after the Brexit to vote at the end of June. The only other times where cash as a percentage of assets under management has hit this level according to the aggregated figures is post-9/11 and November 2001.
The top three threats to markets cited by asset...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
