Equity managers surveyed by Russell Investment Group were generally optimistic about the direction of large-cap markets but less so when it comes to small caps. Russell's new investment manager outlook quarterly poll indicated that 90% of managers believe U.S. equities are either bargains or fairly valued, with bulls outnumbering bears by a 3-1 margin; 75% are particularly bullish on health care. With large caps, 71% were bullish on growth stocks, and just less than 60% were bullish on large-cap value. In small caps, however, 42% were bullish on growth stocks, while 35% were bullish on value stocks. A poll of 107 U.S. investment firms, which manage an average of about $38.7 billion each, was conducted June 7-15.