Active investment managers continue to move into defensive stocks and sectors at the expense of cyclical investments reflecting growing concerns around slowing global growth, rising volatility and geopolitical uncertainties, that’s according to Bank of America’s latest Active Managers’ Holdings Update. Q4 hedge fund letters, conference, scoops etc According to the report, active managers’ relative exposure to cyclical stocks relative to defensives has fallen for two straight months, although the relative weight of cyclical vs. defensives in managers’ portfolios (1.07) is still above the level seen at the beginning of 2018 (1.03). Among the defensive sectors, Health Care’s relative exposure hit 1.16 as the relative weight…
BoA: 15% Of The S&P 500 Is Now Passive
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