The survey, conducted between 9-14 November after the US election results, also says that the US election result accelerated rotation into banks, out of high dividend yield and bond proxies and catalyzed buying of US equities. This drove allocation to US equities improving to net 4 percent overweight from net 7 percent underweight last month.
The US election may have knocked off a chunk of wealth from emerging markets. According to a Bank of America Merrill Lynch November fund manager survey, the US polls results led to selling in emerging markets as allocation to EM equities fell sharply to net 4 percent overweight in November from 31 percent overweight last month, making it the biggest monthly decline since February 2011.
