A new Bank of America (BOFA) research shows that fund managers all over the world believe that one asset class is ready to produce superior returns in the coming years.
Bofa’s Global Fund Manager Survey, who interrogates 190 respondents who supervise $ 523 billion in wealth, finds that 54% of managers believe that international shares will be the best -performing asset class in the next five years, report Investing.com.
In the meantime, 23% American shares, 13% had gold in the eye and 5% chose bonds.
Looking at the stock market, the monthly investigation of BOFA shows that fund managers increase their allocation in the Eurozone and Emerging Market (EM) shares and at the same time crop positions in American names. In particular, they are bullish about shares that act in energy and bank sectors while moving capital of staples, utilities and health care.
As for the US dollar, the fund managers have been in their most underweight position in the US currency since 2005, as 35% public participation They have larger positions in other currencies.
Bofa Chief Investment Strategist Michael Hartnett says,
‘[The] The largest summer trade in the summer is the money for a long time. “
The poll also believes that “long gold” is still the most busy trade, with 41% bullish on the precious metal. At the same time, optimism for the beautiful 7 seems to take, with only 23% long positions.
Based on the results of the survey in June, Bofa says that the most contrary transactions include long US dollars, short gold; Long US stocks, short euro zone shares and long consumer shares, short banks.
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