Global fund managers 'super bearish'; cash allocation at 20-year high: BofA

Global fund managers remained 'super bearish' in September with their net allocation to cash hitting the highest level since September 2001 – the most in over two decades – suggested BofA Global Fund Manager Survey for September. 240 panelists with $695 billion worth of assets under management (AUM) participated in the August survey that was held between September 2 and 8.

Global growth expectations, the survey findings suggest, were near all-time lows with a net 72 per cent respondents expecting a weaker economy in 2023, and a net 79 per cent expected inflation to be lower in the next 12