Fund managers give U.S. another go

International fund managers have been negative on U.S. equities, at least in a relative sense, for most of the last twenty years. Although American stocks account for around half the world market, the major funds have generally been reluctant to put such a large portion of their clients' money into just one country.

This has benefited Europe, Japan and Asia as fund managers have sought to diversify and add value through strategic trading in smaller markets.

But the lukewarm attitude to U.S shares has changed noticeably during the past twelve months and most fund managers are now closer to a neutral weighting in the U.S. than at any time since our poll began in 1990. Moreover, the appeal of U.S. stocks is widespread with European and British managers at least as optimistic as their American counterparts.