Global fund managers increase equity allocations to record levels
Fund managers have increased their equity allocations to a record high, with only 4% expecting a hard landing.
The Bank of America Global Fund Manager Survey polls around 200 to 400 institutional fund managers, providing insight into market positioning.
The survey also found that 66% of respondents expect the Hormuz bottleneck to end in the next few months, while 62% target 6% on 30-year treasury yields.
Cash levels have dropped to 3.9% from 4.3%, the biggest monthly drop since February 2024.