Fund Managers Push $100 Billion Dollars Into The Stock Market: Fear Of Missing Out. A “fear of missing out” triggered a huge switch by fund managers from cash into stocks, according to a survey conducted by Bank of America Merrill Lynch released on Tuesday. The survey of 230 managers running $700 billion of assets found cash levels dropped 0.8 percentage points to 4.2%, the biggest monthly drop since Nov. 2016 and the lowest cash balance since June 2013.
The allocation to global equities climbed 20 percentage points month on month to net 21% overweight, the highest level in one year.
Growth expectations jumped 43 percentage points from -37% to net 6%, the biggest gain since the survey began in 1994.
“Investors are experiencing Fomo—the fear of missing out—which has prompted a wave of optimism and jump in exposure to equities and cyclicals,” said Michael Hartnett, chief investment strategist at BAML.
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