Fund Manager Positioning In March fund managers added to their energy position but reduced overall commodities like grains, softs and metals on a MoM basis — the latest BofA survey shows.
Investors have been underweight commodities now for the past 4 months (longest underweight streak since Aug'19) Compared to the past 20-year z-score, fund managers remain heavily underweight in commodities and even more in energy.
In March fund managers added to their energy position but reduced overall commodities like grains, softs and metals on a MoM basis — the latest BofA survey shows.
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