November 12, 2019 / 8:55 AM / 7 months ago

Investor cash levels at lowest since June 2013 as global optimism rises: BAML

LONDON, Nov 12 (Reuters) - Fund managers’ cash levels dropped in November to their lowest level since June 2013 as investors grew more optimistic on global growth, a key investor survey showed on Tuesday.

Cash levels fell to 4.2% from 5.0% the previous month, their biggest monthly drop since U.S. President Donald Trump was elected in November 2016, Bank of America Merrill Lynch’s survey of global managers managing more than $500 billion in assets showed.

Reflecting a more positive investor outlook, global growth optimism surged by the most in 20 years to an 18-month high, it said. (Reporting by Tom Arnold; Editing by Andrew Heavens)

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