Global investors were more upbeat on equities this month than at any time since early 2011, confident that liquidity will remain ample even though the Federal Reserve has started a debate on when to scale back stimulus, Reuters polls showed.
Monthly asset allocation polls of 56 investors across the United States, Europe and Japan, released on Thursday, also showed investors sticking with Japanese stocks in May despite recent volatility, with allocation to Japan at its highest in nearly a year.
Funds on aggregate lifted their equity holdings to 50.9 percent of their portfolios this month, the highest since February and up from 49.6 in April.
The measure of their overweight/underweight positions in equities rose to 1.1 from 0.8 last month for the highest reading since January 2011.
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