A recent Bank of America-Merrill Lynch (BofA ML) survey showed that global fund managers' allocation to emerging market equities has improved to net 5% overweight in February from net 6% underweight in the previous month, the biggest monthly jump in 11 months.
The global bank said that the current allocation is still 0.6 standard deviation below the long-term average. The bank said the dollar is the main reason behind the shift in allocation.
