[bank of America: survey shows investors prefer to be long large technology stocks but caution prevails] FAP, June 13, few people want to miss the strong rally of US technology stocks. This is the broad consensus of Bank of America's latest global fund manager survey, which shows that investors are "specializing in long" technology stocks in the artificial intelligence (AI) boom. Fifty-five per cent of respondents said being long on large tech stocks was the hottest deal, the highest proportion since 2020. However, Michael Hartnett, a strategist at BofA, said fund managers were still generally underweight as sentiment as measured by cash levels, economic growth expectations and asset allocation remained "persistently low". Investors reduced their share allocation to a five-month low. Caution prevailed in the survey, which showed that 59 per cent of respondents thought the Fed had not yet finished raising interest rates. This is in stark contrast to last month, when 61% of people said the fed had raised interest rates for the last time.