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    Fund managers at their most bullish in 2020

    Synopsis

    “The most bullish Fund Manager Survey of 2020 on the back of vaccine, election, macro.... November FMS shows a big drop in cash, 20-year high in GDP expectations, big jump in equity, small cap and EM exposure," the survey noted.

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    A second wave of coronavirus is a biggest tail risk, according to the survey.
    US Election
    Mumbai: Fund managers are the most optimistic on the stock market than they have been all year, according to the latest Bank of America fund manager survey.

    This bullishness has come on the back of US election outcome and progress on a vaccine for coronavirus, the survey showed.

    Vaccine expectations have moved forward by a month to the middle of January 2021 from the middle of February 2021.

    “The most bullish Fund Manager Survey of 2020 on the back of vaccine, election, macro.... November FMS shows a big drop in cash, 20-year high in GDP expectations, big jump in equity, small cap and EM exposure," the survey noted.

    About 190 fund managers with $526 billion in assets under management participated in the global fund manager survey. A total of 91% of fund managers believe the economy will be stronger in the next 12 months. Net 84% of fund managers expect global profits to improve — the highest level since 2002.

    A second wave of coronavirus is a biggest tail risk, according to the survey. It is the biggest tail risk for 41% of those surveyed, while tech bubble is seen as the second biggest tail risk.

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