Managers favour Europe says Merrill Lynch

The survey, which interviewed 201 managers between May 3 and May 10, found investors also believed that companies in Europe had higher quality earnings than their counterparts in the US. Karen Olney, head of European Equity strategy at Merrill Lynch, revealed that 36pc of managers would like to be overweight eurozone equities on a 12-month view while 56pc were already overweight the region. Olney said: “The trade into eurozone equities has become crowded, and we understand that contrarians may want to lock in some profits. However, investors should regard any material sell-off as a bu...