BofA: Long-only Funds Keep Reducing U.S. Equity Exposure as International Buying Continues
Bank of America research shows continued rotation by global long-only funds out of U.S. equities in March, with sizable purchases in Europe, Japan and parts of Asia. Over the past year, funds have net sold $284 billion of U.S. stocks while adding to Asia Pacific ex-Japan and emerging markets. Active managers have driven much of the repositioning, s…