US stocks are rising but are particularly unpopular with investors.
(Photo: dpa)
Frankfurt The contradiction is clear: The global stock markets – measured by the MSCI World – have gained an impressive 18 percent since October. But many institutional investors do not trust the rally and have missed it.
This is a result of the current, well-regarded Bank of America (BofA) survey of global portfolio managers. According to this, at the beginning of February, 31 percent of professional investors were underweighted in shares in fund companies, banks, insurers, pension funds and companies. This means: They held fewer shares than the trend-setting indices for their houses indicate.
The skepticism about equities is no longer quite as great as in January, but it is still noticeable. This is especially true for the USA. In US stocks, there were 34 percent more investors who were underweight stocks than those who weren’t. The Handelsblatt provides an overview of why so many investors are still skeptical – and which region investors find interesting.
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