European stocks are falling out of favor with investors

Frankfurt The Dax is approaching the 16,000 point mark, and the leading euro zone index, the Euro Stoxx 50, is also continuing to soar. Both indices are only a few percent below their all-time highs of almost a year and a half ago. Nevertheless, international portfolio managers are now also becoming cautious with regard to European equities.

This is the result of the widely acclaimed monthly survey by Bank of America (BofA) of more than 200 institutional investors in mutual funds, asset managers, banks and hedge funds. According to this, from the beginning to mid-April, only one percent of those surveyed held more shares from the euro zone than the comparative indices specified for their portfolios. In March, 19 percent of investors were still overweight in shares in the euro zone.