Bjorn Lind, who oversees EUR 13bn as the head of asset allocation at AMF’s fund unit, says it has raised the proportion of stocks in its portfolios since late August after keeping it at about 60 percent for most of this year.

Lind, who manages AMF’s global funds and the AMF Balanced Fund, said an ideal level would be about two thirds and gradually plans to raise the equities exposure to that level. Lind’s bet stems from an improving outlook for the global economy, after economic data improved, central banks “softened,” geopolitics “calmed down a bit” and the risk of a hard Brexit decreased, he said in an interview in Stockholm.