May
17

Fund Managers Hoard Cash as Brexit Vote Fuels Risks, BofA Says

By

Fund managers are hoarding cash, largely because of concerns about Brexit and China, according to a Bank of America Merrill Lynch survey of investors overseeing $619 billion.

Cash makes up an average 5.5 percent of holdings, the bank said in a report on Tuesday, citing responses from 205 fund managers. That matches levels seen following the 2008 collapse of Lehman Brothers Holdings Inc. and last year when China devalued the yuan…

Fund Managers Hoard Cash as Brexit Vote Fuels Risks, BofA Says

Share
Categories : Uncategorized

Leave a Reply

You must be logged in to post a comment.