Investors are as overweight US stocks in their portfolios as they were last in August 2013.
(Photo: AP)
Frankfurt US stocks are top again, and cash is no longer king: this is how the positions of fund managers can be summarized according to the latest monthly survey by Bank of America (BofA). Compared to October, the portfolio managers surveyed have become significantly more optimistic.
The BofA survey is considered to be the most important regular sentiment among investment professionals. 345 investors who collectively manage well over a trillion dollars responded to the questions.
The greater optimism is probably also due to the fact that investors no longer estimate the risk of inflation as high as they did a month ago. It is true that 33 percent of those questioned still cite a faster-than-expected rise in the rate of price increases as the greatest risk for the financial markets. In October, however, 48 percent named inflation as the greatest risk.
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