look news india
Mumbai: Global fund managers are most bullish on equities at the moment. A survey conducted by BofA Securities concluded that fund managers are optimistic about equities due to the possibility of interest rate cuts by global central banks. A cut in interest rates creates a more positive situation for equities than an increase in earnings per share.
18 per cent of fund managers surveyed by BofA Securities are overweight on Indian equities.
BofA conducted a survey of 245 fund managers with $642 billion of assets under management from May 3 to May 9, 2024.
The amount of cash held by global fund managers fell 4 percent in May to a three-year low. Fund managers' allocation to stocks is the highest since January 2022.
Japan tops the list of preferred fund managers in Asia Pacific, followed by Taiwan. After this comes India's turn. However, India is seeing a change in allocation after March.
After March 2024, a mixed trend was seen in the major indices of India.
Japan has been a favorite market for investors, but it will have to wait a long time. 50 percent of the fund managers who participated in the survey said that there is no possibility of a boom in Japan in the near term.
Corporate reforms and Bank of Japan policy will be the main factors determining market movements.
Meanwhile, 41 percent of global fund managers expect China's economy to strengthen over the next 12 months, the report said.