Global investors holding on to cash despite stock rally

London

AMID a rally that's added back US$2.8 trillion in equity value globally, investors burned by Greece and China remain reluctant to loosen purse strings.

The MSCI All-Country World Index has regained two-thirds of its losses from a record in May through a low last week, though the biggest price swings since October are scaring money managers away. Funds worldwide are holding on to the most cash since the financial crisis of 2008, according to a Bank of America Corp survey.