Investors scale back risk-taking

New York: Investors have scaled back risk-taking in the past month, reducing exposure to equities and commodities while upping allocations to cash and bonds, according to the BofA Merrill Lynch Survey of Fund Managers for June.

Asset allocators significantly reducing their holdings in equities, according to the survey completed between June 3 and June 9.

The net percentage overweight equities fell to 27% from 41% in May, with Europe leading the way. The proportion of investors underweight eurozone equities rose to a net 15% from a net 1%. The proportion of investors overweight commodities fell to a net 6% from a net 12%.