Investor confidence at lowest level since global financial crisis: BofAML

Investor confidence has hit the lowest since the Global Financial Crisis (GFC) of 2007-08 with fund managers trimming their allocation to equities, suggests the latest Bank of America Merrill Lynch's (BofAML's) Global Fund Manager Survey (GFMS) for June. A total of 230 panellists with $645 billion in assets under management (AUM) participated in the survey between June 7 and13, 2019. 

Allocation to equity by global fund managers saw the second largest drop ever in June (largest happened in August 2011). The pessimism, according to the survey findings, was driven by concerns over trade war/recession, monetary policy impotence and low strike