Tom McManus, chief investment strategist at Banc of America Securities, raised the equity allocation in his model portfolio for institutional investors with a midterm to long-term investment outlook to 70%, from 60% less than two weeks ago. Mr. McManus had held that 60% weighting since February 2000, said John Roehm, a company spokesman. "This is the first real positive stance he has taken in a long time, Mr. Roehm said. Mr. McManus has reduced his allocation to bonds to 25% from 35%.
Tom McManus, chief investment strategist at Banc of America...
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