EMs, Japan gain favour as risk appetite grows

Global investors are overweight emerging markets for the first time since November, with India particularly in favour, according to Bank of America Merrill Lynch’s (BoA-ML) latest monthly fund manager survey*. In the poll two months ago investors said the asset class was the most undervalued they had seen it in 13 years. India is by far the most heavily favoured EM globally, with a net 75% of global managers overweight the market, up from around 50% in May and 44% in April. Asia…