Even the most positive outlook for equity valuations is that they are fair rather than undervalued and that risk assets are still a long not a short-term play.
Merrill Lynch Wealth Management sells off exposure to US equities but remains overweight.
If investors take a step back they will see 2008 in the distance and a positive long-term view ahead
The monthly BofA Merrill Lynch Fund Manager Survey reports Japan exposure is rising.
David Harrison has left Hermes Fund Managers to join Merrill Lynch Wealth Management.
Wealth managers need to understand the needs of HNWIs better as they change their investment goals.