Investors do not trust the recent recovery on the stock markets.
(Photo: mauritius images)
Frankfurt Prices on the stock markets are rising again, but professional investors are obviously not yet trusting the recovery. That’s according to Bank of America’s (BofA) closely watched monthly survey of institutional investors. This time, a good 270 fund managers worldwide took part, managing a total of 790 billion dollars.
On average, 34 percent of these professional investors have underweight stocks in their portfolios. Underweight means that the portfolio managers hold fewer shares in fund houses, insurers, pension funds, banks, companies and hedge funds than the trend-setting indices for their respective houses specify. On a net basis, there are 34 percent more investors who underweight stocks than those who don’t.
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