BAML survey of global fund managers
Among the various ways of measuring investor sentiment, the BAML survey of global fund managers is one of the better as the results reflect how managers are allocated in various asset classes. These managers oversee a combined USD 600bn...
...in assets. The data should be viewed mostly from a contrarian perspective; that is, when equities fall in price, allocations to cash go higher and allocations to equities go lower as investors become bearish, setting up a buy signal.
Status for 15th Aug. 2017:
How are the international fund managers positioned? The current cash-holdings of the Cash Managers is at ca. 4.9 percent. This international level is - same like in the month before - by a relevant margin higher than the 10-yer average of 4.5 percent. The Cash Level from European Investors is especially at a high level: 5.3 percent – the last time BofA Merrill Lynch registered such a high level was more than a decade ago, namely in March 2003!