Allocations to European equities hit 15-month high despite election risk

The survey, carried out between 6 and 12 April, found the number of fund managers overweight eurozone equities had reached a 15-month high, with 48% of respondents overweight the region.  Within Europe, the UK was the least preferred region and its relative positioning versus European equities is within 1% of an all-time low. Furthermore, this was the fifth largest rotation out of US equities into European equities since 1999, with 20% of managers saying they were underweight US equities, the lowest allocations since January 2008. Ronan Carr European equity strategist at BofA Merri...