Global investors are increasingly worried that companies are overinvesting, just as market sentiment remains “uber bullish” and further asset gains look harder to achieve, Bank of America’s monthly fund manager survey showed this week.
The poll of 162 managers overseeing $440 billion found cash balances rose to 3.4 per cent from January’s record low 3.2 per cent, while investors stayed heavily overweight commodities and equities and deeply underweight bonds.
Macro optimism
