July 9, 2012

By Blaine Rollins, CFA, Managing Director, 361 Capital

Allianz, with a total of about 1.7 trillion Euro under management, has only 6.0% of its insurance portfolio in equities, while 90.0% is in bonds. A decade ago, 20.0% was in equities. It is far from alone: institutional investors, from pension funds to mutual funds sold directly to the public, have slashed holdings in the past decade. Stocks have not been so far out of favor for half a century. Many declare the "cult of the equity" dead.

Source: This was excerpted from Financial Times via 361 Capital's 361 Capital Weekly Research Briefing, May 28, 2012 publication, http://361capital.com.

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