According to the Bank of America , fund manager’s most overweight sector is now Healthcare.

Ever since the depths of financial crisis investors appear to be the least optimistic about the tech stocks ergo they are piling into another much safer corner of the market that is healthcare.

The Bank of America of the United States ,this very month surveyed about 225 fund managers who under management have $US641 billion assets .

The people who were surveyed confidently said that tech stock is the most crowded trade specifically the BAT which comprises of Baidu Alibaba Tencent.

Source: gannett-cdn

These investors also pointed out that mega- cap consortium  also known as FAANG comprising of the major earning part of the stock market Facebook, Amazon, Apple along with Netflix and Google.

The survey found that health stocks are rated as NO.1 overweight by the global investors and in November, the global investors have been selling the tech stocks to pile into defensives such as health names.

Healthcare is know considered as safer alternatives in the present rocky markets.

This year Healthcare stocks have clearly outstriped the overall market, by successfully climbling more than 10 percent while the benchmark Standard and Poor 500 climbed only 2.5 percent.

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Since the beginning of July the SPDR Healthcare Select Sector ETF absorbed some $US1.4 billion of the most up to date capital.

The economy of the world is not in a very healthy state with the on-going trade war and the imposition of the sanctions by the United States in Iran for the export of oil.

There is also oversupply of oil in the market which has led to decrease in its price thereby bringing a decrease in its value.

The technology sector sector is also experiencing the blow of the downfall with the major e-commerce giant,Alibaba and Tencent revising the forecasts of their revenue for the current fiscal year.

Source: BusinessInsider, TechSideStuff