Scant evidence of 'great rotation' into equities, says Cowley

Among those citing evidence of a significant shift into equities has been Bank of America Merrill Lynch, which said its latest survey of global fund groups suggested more than half of investors had moved overweight equities, the highest position since February 2011. Figures from the Investment Management Association (IMA) also suggested a switch in investor attitudes. But Cowley, head of fixed income at OMGI, said equity market trading volumes remained thin. "There is scant evidence this ‘great rotation' has taken place, despite the IMA figures showing a bit of a shift," he said. ...