BoA's McManus Says Fund Cash Levels at Record Lows

Jun 05 07

BoA's McManus Says Stock Fund Cash Levels at Record Lows. CNN Money's FUNDWATCH writes, "For Fund Managers In Rising Stock Market, Cash Is Trash", quoting Bank of America (BAC) strategist Thomas McManus, "Cash levels are plunging to what might be their lowest levels of all time". Cash levels in stock funds were a razor thin 3.7% in April and a record low 3.6% in March (March was revised down to set the record), according to ICI figures.

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