Fund managers exited equities and pared back global growth outlooks in May, a direct impact of a...

|By:, SA News Editor
Fund managers exited equities and pared back global growth outlooks in May, a direct impact of a "straightforward growth shock," according to BofA Merrill Lynch's monthly survey. Investors are concerned efforts to reduce global deficits will result in a long period of sluggish growth. Cash holding hit 4.3%, up from 3.5% last month, as risk appetite fell.