Fund managers have been steadily decreasing the amount of cash they hold, with the latest Bank of America survey finding an average 4% cash holding in June, a decrease versus previous months.
This is likely due to the potential performance other asset classes are showing at the moment, according to the bank. But Alastair Sewell, liquidity investment strategist at Aviva Investors, said investors do not share the same confidence.
Assets within money market funds have been at an all-time high as investors seek to counter the erosion of inflation on their savings. This means that cash cur…
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