Fund managers cut allocations to Japan and US

Jul 15, 2010

Emerging markets are the preferred investment destination, despite low optimism about Chinese and global economic growth, according to Bank of America Merrill Lynch's July fund-manager survey.

Investors are the most negative they've been on China's economic growth since January 2009, with a net 39% expecting growth to weaken. This reflects a widespread rise in bearishness about the global economy since last month, according to the latest monthly fund-manager survey from Bank of America Merrill Lynch.

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