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BAML survey shows asset managers are cautious on growth prospects

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BAML survey shows asset managers are cautious on growth prospects. As global fund managers are adjusting to a world of waning central bank stimulus, they are their most gloomy on the outlook for global growth and stock markets in two years, shows survey. The Bank of America-Merrill Lynch poll for October indicated a large increase in money mangers' risk aversion, stating, Concerns over the imminent end of quantitative easing in the U.S. have left investors much less confident in the outlook for the global economy and corporate profitability. Results of the survey showed only 18 percent of fund managers think monetary policy is too stimulative. Allocation to bonds has been raised by fund managers to a seven-month high. Cash holdings have also been raised to 4.9 percent from 4.6 percent. The survey also showed betting on the dollar to strengthen was the most crowded trade. Geographically, investors are shielding themselves from the worsening conditions in Europe, with allocations to U.S. equities rising to a 14-month high. (VIEW LINK)


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