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Global fund managers were the most overweight to U.S. equities in eight years as their concerns over ebbing growth receded, according to the latest fund manager survey from Bank of America.
The allocation to U.S. equities jumped 13 points in November to 29% overweight — the highest reading since August 2013, the monthly survey found. These investors report being overweight U.S. equities since March 2019, which has continued to be a winning bet.
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