The report added: “Catalysts for the scramble from the US are valuation, as 83% of investors say US stocks are overvalued, the highest on record, and a jump in the risk of delayed US tax reform.”
Materials, REITS and energy sectors fell out of favour in April, with investors reducing their exposure since March in favour of emerging markets, where allocation hit five-year highs, as well as utilities and bonds, the FMS revealed.
