Fund Managers Maintain Lowest Cash Levels Ever as Investor Sentiment Reaches Four-Year Peak
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 16 2025
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Source: MarketWatch
Cash Levels Decline: Bank of America's global fund manager survey indicates cash levels have dropped to an all-time low of 3.3%, down from 3.7% in November.
Investor Optimism: The low cash levels reflect a high level of optimism among fund managers, suggesting that investors are heavily invested in risk assets.
Market Implications: According to report author Michael Hartnett, this bullish positioning could pose significant challenges for risk assets moving forward.
Overall Sentiment: The findings highlight a prevailing sentiment of confidence among investors, with many already fully committed to the market.
Analyst Views on XLF
Wall Street analysts forecast XLF stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for XLF is USD with a low forecast of USD and a high forecast of USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
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Current: 53.460
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Current: 53.460
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
