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Global fund managers build first UK equities overweight position in three years
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According to the Bank of America Global Fund Manager survey, the allocation to UK equities jumped by ten percentage points month-on-month in September to a net 2% overweight. This has coincided with a move towards defensive assets such as utilities and staples. Investors' overweight to utilities is the highest since December 2008 at a net 8%, with a significant shift from global cyclicals to bond sensitive assets. Economic 'boom' expectations spike as equity bets jump to highest level in two years Investors have also moved into Eurozone stocks and financials and out of tech an...
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