Global Fund Manager Survey

The June BofA Global Fund Manager Survey shows investors remain bullish, though sentiment has tempered slightly from May. Key concerns involve inflation and a potential AI bubble, leading to tactical adjustments in equity and sector allocations.

Key Takeaways

• 1.Investors remain steadfastly bullish, with the BofA Bull & Bear Indicator hitting a 'sell' signal of 8.9.
• 2.Global growth and profit optimism reached 3-month highs, while cash levels rose to 4.1%.
• 3.The most crowded trade is 'long global semiconductors' at an all-time high of 80%.

Table of Contents

• Charts of the Month
• Investors on Macro
• Investors on AI, Policy and Risks
• FMS Asset Allocation
• Currencies extremes
• Investor Regional Equity Allocation
• Investor Sector Allocation
• Global survey demographics data

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