The monthly Merrill Lynch fund manager survey is showing a turnaround in investor sentiment. For the first time since December 2007, the majority of fund managers surveyed are overweight equities within a global portfolio, resulting in a net 9% overweight in the asset class. That's a marked improvement from last month's net 6% underweight in equities.
Whether this will translate to further gains in stock markets worldwide remains to be seen, however, as significant improvements in the survey results in past months have not necessarily resulted in market gains.
The ...