What's Hot: Where did the smart money go in May?

As the eurozone crisis appeared to near its nadir in May, this was reflected in both a move away from eurozone assets, and a flight to ‘safer’ assets. Despite many strategists now suggesting that equities look cheap, they remain unloved relative to parts of the fixed income market with investors increasingly looking to multi-asset strategies for growth. Eurozone equities and bonds were universally unpopular as the crisis worsened. According to EPFR Global, both types of fund extended April’s losing streak into May. Emerging market equities also continued their recent weakness. That sa...