BoFA: Equity Exposure Levels Advance to the Highest for 6 Years
Money managers ramped up their equity exposure over the past week to the highest since March 2015, anticipating boost of corporate returns in 2021, Bank of America reported on Friday.
Investors poured $ 18.1 billion in equity funds in the week ended Wednesday, pushing six-week total investments to a record $ 140 billion in hopes of a recovery next year thanks to progress in developing coronavirus vaccines and boost in US fiscal spending.
Emerging market equities saw a weekly inflow of $3.9 billion, recording an inflow for five consecutive weeks as investors prepare for "vaccine year," according to BofA note to clients.
The US investment bank said that clients with $ 2.9 trillion in assets allocated 61.5% to shares, nearly in line with a record 62.5% that was reached about six years ago.
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