Global funds raise cash, bond holdings on Brexit, Fed fears

May 27, 2016 11:32 AM

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Global funds raise cash, bond holdings on Brexit, Fed fears

LONDON Global investors have raised their holdings of cash and bonds, citing fears about potential shock waves from a Brexit vote rippling beyond Britain and the increased likelihood of a rise in U.S. interest rates this summer.

Fund managers polled by Reuters in the United States, Europe, Britain and Japan raised cash allocations to 6 percent in May, the highest level since January when global equity markets were in free-fall. They also increased their bond exposure to 37.8 percent from 37.6 percent in April.

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