May
17
Fund Managers Hoard Cash as Brexit Vote Fuels Risks, BofA Says
ByFund managers are hoarding cash, largely because of concerns about Brexit and China, according to a Bank of America Merrill Lynch survey of investors overseeing $619 billion.
Cash makes up an average 5.5 percent of holdings, the bank said in a report on Tuesday, citing responses from 205 fund managers. That matches levels seen following the 2008 collapse of Lehman Brothers Holdings Inc. and last year when China devalued the yuan…
Fund Managers Hoard Cash as Brexit Vote Fuels Risks, BofA Says
