Fund Managers Boost Stock Allocations by a Record in BofA Poll

Fund managers chasing the powerful rally in equities increased their allocations to stocks by the most on record this month, a Bank of America Corp. survey showed.

Asset allocators boosted their stock exposure to a net 50% overweight in May, from 13% last month, the bank’s latest global poll of the industry shows. Fund managers are now the most overweight on equities they have been since January 2022 and are close to triggering BofA’s sell signal, strategists led by Michael Hartnett said in a note.