Global investors seek to cut exposure to stocks on Covid-19 fears              

Some business activity has picked up since May, but the latest data suggest the momentum has slowed. File picture.

Global funds recommended cutting equity holdings in July to the lowest in four years and suggested keeping bond allocations unchanged from June, amid worries the coronavirus pandemic is hobbling a nascent economic recovery, according to a new Reuters poll.

Some business activity has picked up since May, but the latest data suggest the momentum has slowed on fears of renewed lockdowns and delayed re-openings caused by a resurgence in new coronavirus cases in many countries.