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Big Tech stocks the most crowded trade for fourth straight month: BAML fund survey

Reuters  |  LONDON 

LONDON (Reuters) - Global investors clung to their preference for the tech sector in May, with shares in so-called FAANG and BAT companies remaining the most crowded trade for the fourth straight month, according to a survey by Bank of America Merrill Lynch.The bank said on Tuesday that surveyed fund managers found "FAANG + BAT" shares most widely liked by the market and most often held in portfolios. FAANG groups the U.S. tech giants Facebook, Apple, Amazon, Netflix and Google while BAT comprises the Chinese trio of Baidu, Alibaba and Tencent.Being "short" U.S. Treasury bonds as well as the ...

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First Published: Tue, May 15 2018. 18:12 IST