BofA: Global investors turn away from EM equities as China growth optimism slumps

Bank of America's monthly Global Fund Manager survey found that, based on cash positions, equity allocation and economic growth expectations, investors are still bearish, although they are no longer acting as "extreme bears". September saw a record shift into US equities and out of EM equities. Allocations to US equities rose from a net 22% underweight in August to a net 7% overweight, while EM equity allocations fell to a 9% net overweight from 34% last month. Ruffer: 'Gravity' set to reassert itself on financial markets as recession looms The EM equities slump came as Chinese gro...