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Institutional Cash Allocations Drop to 15-Year Low
11/23/2025, 20:06
AI SUMMARY
●• Global managers' cash allocation fell to 3.7% in November
●• Lowest cash level in 15 years, staying under 4% for 5 months
●• Signals strong institutional appetite for risk assets
Data from The Kobeissi Letter reveals that global investment managers have reduced their cash allocations to 3.7% in November, marking a decline of 0.1 percentage points. This level represents the lowest cash allocation seen in 15 years.
Cash levels relative to assets under management (AUM) have now remained at or below the 4% threshold for five consecutive months, suggesting a sustained period of capital deployment.
This trend highlights a significant risk-on sentiment among institutional investors, who appear to be aggressively positioning themselves in equities and other assets rather than holding dry powder.