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Asset management and fund structuring boutique

Highest cash since 9/11

May 18, 2022

The latest BofA global fund manager survey illustrates how bearish the current investor positioning is. Average cash levels are now the highest since 9/11, id est over more than 2 decades. Hawkish central banks, a global recession and inflation are considered the biggest tail risks. As we stated before, we can now reasonably expect a short term equity rally as markets appear oversold on many metrics. Longer term however, we stick to our guns, stay defensive and only invest in undervalued companies with strong moats.

Source: BofA Global Fund Manager Survey





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