Top managers were finding new places to put money to work and adding to existing high-conviction ideas in the first quarter.
Top managers continue to find opportunities for new-money purchases (albeit fewer than in past periods), while taking full advantage of a rising stock market to book some gains.
These top investment managers put new money to work in several wide-moat names, including United Technologies.
Top managers continue to find new opportunities, while taking full advantage of a rising stock market to book some gains.
A group of top managers remains cautious and commits more capital to traditional defensive sectors, while taking advantage of a rising (and potentially overvalued) market to book some gains.
The continuing U.S. stock market rally has diminished the number and similarity of purchases across these top managers.
A group of top managers continue to keep looking for good investment opportunities, while taking full advantage of a rising (and potentially overvalued) market to book some gains.
Top managers continue to exercise a lot of patience as they look for buying opportunities in a U.S. equity market that has risen close to 40% since the start of 2013.
Our top managers continue to focus on higher-quality businesses rather than seeking out bargains in a market that (in many of their minds) has become fully valued.
The pickings continue to get slimmer for a proven group of top fund managers as the market continues to trade around its all-time high.