Fund managers rush to emerging stocks: BofA survey of global investors

Investors turned more optimistic about the global economy in February, flocking to emerging market stocks and cutting their cash holdings to levels last seen since before the war in Ukraine, a BofA survey of global investors showed.

The survey of 299 fund managers, with a combined $847 billion in assets under management, found investors were still broadly cautious, but less so than in recent months. 

Only 24 per cent predict a recession compared to 77 per cent who did in November, according to the survey conducted in the week to February 9.

Investors remain net overweight cash and underweight equities, but a combined