Why fund managers rely on Europe

Frankfurt The Dax marked its highest level in twelve months on Thursday at 15,659. But he’s not the only one making the headlines, Europe’s stocks as a whole are also making headlines. They’ve beaten Wall Street since September – it’s been a long time since that happened. Since then, the broad European stock index Stoxx Europe 600 has gained around 19 percent, the leading US index S&P 500 almost 15 percent.

That attracts investors. According to Bank of America’s most recent survey of 235 portfolio managers, a total of four percent of wealth managers were overweight in European equities in January; they held more stocks than the in-house benchmarks indicate.