Asset Management

‘Fear of missing out’ triggers huge fund manager shift to stocks, says Bank of America

Fund manager cash levels are lowest in six years

A “fear of missing out” triggered a huge switch by fund managers from cash into stocks, according to a survey conducted by Bank of America released on Tuesday.

The survey of 230 managers running $700bn of assets found cash levels dropped 0.8 percentage points to 4.2%, the biggest monthly drop since November 2016 and the lowest cash balance since June 2013.

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