Investors may be getting out of most emerging markets, but they seem to be doubling up on those they still like. February’s survey of fund managers from Bank of America Merrill Lynch shows a collapse in overall allocation to emerging markets, but a significant increase in a handful of countries.
The big regional winners are in eastern Europe and the Middle East, while the big loser is Latin America.
On a country level, Russia stands out for its popularity. Eighty-eight per cent of survey respondents are overweight the market, up from around 50 per cent in January.
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