Funds pile on risk
A Eu190m placement in shares for building materials firm HeidelbergCement was covered five times when it closed on Tuesday. The strong demand highlights how risk aversion among equity investors is falling fast. The number of funds taking “above normal” risk reached a four year high this week, a Bank of America Merrill Lynch survey found. Will this trigger an onslaught of bookbuilds? Read EuroWeek on Friday.
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