Many fund managers are currently significantly underweight the proportion of equities in their portfolios.
(Photo: AP)
Frankfurt “More fear than greed” can currently be seen among large investors – this is how the strategists at Bank of America (BofA) interpret the results of their monthly survey of around 260 fund managers. Respondents, who manage more than $650 billion in invested capital, fear the global economy could slide into recession in the coming year.
However, they now no longer expect a rapid slowdown, but rather a gradual cooling of the economy. As a precautionary measure, they have changed the weighting in their portfolios and, for example, mainly sold commodities. They also hold relatively few shares.
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