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UK shares are not where investors want to be right now. That’s the message from the latest Bank of America Fund Manager Survey.
The September data shows hedge funds shifting away from UK stocks at their fastest rate in over 20 years. And when something like that happens, it’s difficult not to take notice.
The data
The survey collects data from 196 institutions with over $490bn in assets under management. And the picture when it comes to the UK is clear.
Hedge funds are positioning away from UK stocks at their fastest rate in over two decades. The last time a move of this size was recorded was in April 2004.
That means investors are avoiding UK equities more actively than after the 7 July terrorist attacks, Brexit, or the 2022 Mini Budget. In fact, they’d rather be just about anywhere else.
In absolute terms (not just changes) investors are more negative on…
