Investors see equity bubble

MORE fund managers are convinced that equities are overvalued than at any point in nearly 15 years, according to a survey yesterday.

Bank of America Merrill Lynch’s latest poll of major investors showed the largest majority since the year 2000 now feel that global stocks were overvalued.

Despite this, a net balance of 61 per cent of fund managers say that they are overweight equities, the most positive outlook on share prices since 2011.