Benefiting from a lack of alternatives

After what seems to be an eternity, global asset allocators in the BofA Merrill Lynch Fund Manager survey finally found time for British equities this month.

When I say found time, they moved from a 15% underweight last month, to a broadly neutral stance.

However it is a long way from being the least popular region, a title it has held for some time. The worry is no-one can explain the surge in popularity. As asset allocators turned their backs on America and Japan, British equities have apparently benefitted from there being a lack of alternatives. (article continues below)

In other news, a big hearty congratulations to Investec, the new proud sponsors of Tottenham Hotspur’s shirt in its domestic and European cup competitions.

Let us hope it brings instant success this evening.