Deutsche Bank’s equity positioning retreated last week but remained modestly overweight, according to strategist Parag Thatte. The aggregate allocation declined from prior levels, though it continues to trail the levels implied by current earnings growth.
Discretionary investors reduced their exposure to a slight underweight, while systematic strategies held firm at overweight without changes. Volatility control funds maintained allocations near elevated levels, and Commodity Trading Advisors increased their stock positions, which remain high.
Global equity funds recorded accelerated capital inflows of $40.1 billion, the strongest weekly intake on record. Fixed income funds continued to attract strong demand, drawing in $21.4 billion. U.S. equities accounted for the bulk of the equity increase, with $28.9 billion in new investments. Broad global funds saw inflows of $11.7 billion, while technology funds returned to positive territory with $2.3 billion, reversing two consecutive weeks of outflows.
