Fund Managers Boost Stock Allocations by a Record in BofA Poll

Fund managers are increasing their exposure to equities at the fastest pace since the financial crisis, according to Bank of America’s latest quarterly fund manager survey. The poll found that 61% of respondents now have a net positive equity bias, up from 54% in the previous quarter and 38% last year. The rise in stock allocations is being driven by a combination of factors, including improving economic data, optimism around earnings growth, and lower inflation expectations. According to the survey, fund managers are also becoming more optimistic about the global economy, with 62% expecting …