Share prices are rising, but skepticism is also growing.
(Photo: IMAGO/Xinhua)
Frankfurt The development of the stock markets since autumn has been impressive, but many investors only saw part of the rally. But now they are at least grabbing a little more stocks again, although they have become even more skeptical about the development of the economy.
That’s the key finding from Bank of America’s widely acclaimed monthly fund manager survey, which this time included 251 investors. Together they manage assets of $666 billion.
Institutional investors still hold fewer shares than the trend-setting indices suggest for their portfolios. But the bottom line is that only 24 percent of those surveyed are underweight in equities compared to their benchmarks, down from five months ago. In a sense, investors are chasing the rally in equities.
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