Fund managers seeking protection over stock volatility

Global fund managers have been the most active since the global financial crisis in taking out protection against stock volatility, a Bank of America Merrill Lynch survey* has revealed. As of July, 25% of the 149 fund managers surveyed in BAML’s monthly poll said they had taken out protection against a sharp fall in equity markets over the next three months. Meanwhile, cash within funds has soared to levels not seen since December 2008, with the average cash held by funds standi…