Global fund managers most bullish in two years as growth expectations improve

BofA Global Fund Manager survey

Global investors have expressed their “most bullish” sentiment since January 2022, according to the Bank of America’s latest Global Fund Manager survey.

Sentiment rose to 4.1 from 2.9, based on cash levels, equity allocations and economic growth expectations. A record low, close to 0, was registered in the aftermath of the collapse of Silicon Valley Bank in March 2023. Overall, cash levels have been cut to 4.2% from 4.8%, due to global growth expectations hitting two-year highs and investors taking advantage of the US tech rally. The proportion of investors expecting a weaker economy in the next 12 months decreased to a net 25%, from January's 40%, the survey found, with "big improvements" in global growth expectations from a low of n...