|
Fund
managers looked to invest more in non-traditional instruments,
such as derivatives and commodities, with the recommendation
rising to 6.2 percent from 4.1 percent the previous month.
"The most opportunity resides in areas that have fallen out of
favor in the past few years," said Tom O'Neil, president of
Falcon Advisors.
It is also a hedge against the effects of stock market
fluctuation and fears of a global economic slowdown led by
China.
With expectations of only gradual rate hikes this year,
especially after Federal Reserve Chair Janet Yellen urged
caution on raising U.S. interest rates on Tuesday, investors are
shying away from bonds.
Stocks also fell at the beginning of the year, although have
since recovered. Tthe latest poll of 13 U.S. money managers
showed recommended allocations to equities were down to 51.7
percent in March from 51.9 percent the previous month.
Bond holdings in a model portfolio dropped for the third
consecutive month, to 35.7 percent from 37.2 percent, slightly
below their level a year ago.
They left cash holdings at 4.4 percent, the same as in February
and the highest since June last year.
A regional breakdown showed a fall in allocations for North
American assets, with stocks down to 64.4 percent, a level not
seen for over a year, from 68.3 percent.
It was the same in the fixed-income portfolio, with fund
managers reducing North American bond allocation recommendations
to 66.1 percent from 71.8 percent in February, the lowest in 28
months.
At the expense of North American assets, fund managers
recommended an increase to assets in Britain, emerging Europe
and Japan.
(Polling by Krishna Eluri and Anu Bararia, editing by Larry
King)
[© 2016 Thomson Reuters. All rights
reserved.] Copyright 2016 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed. |
|
