LONDON - Investors' increased their allocations to cash and reduced their an overweight position in stocks in August, as expectations for global growth dropped to its lowest in 8 months, a BofA survey of fund mangers published on Tuesday showed.
According to the survey, 31% of respondents said they were overweight stocks in August, down from 51% in July, while their average cash level was 4.3% of their assets under management, up from 4.1% a month before. BofA attributed the shift to weak U.S. payrolls data for July, and the volatility shock associated with the rebound in the yen.A net 47% of survey respondents expect a weaker global economy in the next 12 months, down 20 percentage points from July.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.would like to remind you that the data contained in this website is not necessarily real-time nor accurate.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.