Global asset allocators cut risk amid eurozone debt concerns

Global investors have scaled back risk-taking in the past month, trimming overweights in emerging markets and reducing exposure to equities and commodities while increasing allocations to cash and bonds. A net 23% of global investors are now overweight emerging markets, from 29% in May, according to the Bank of America-Merrill Lynch Fund Managers Survey for June. While emerging markets remain the most favoured region ahead of the US, allocations are well down on the highs of Nov…