Sixty-nine percent of investment managers surveyed by Russell Investments are bullish for domestic large-cap growth equities, up from 58% three months earlier.
Russell's quarterly Investment Manager Outlook also reported bullishness for emerging markets equity was up to 66%, up from 56%.
Managers' reduced aversion to risk is also driving a drop in bullish sentiment for corporate bonds, to 32% from 41%, and U.S. Treasuries, to 4% from 9%.
The majority of managers surveyed also agree that Europe's continuing challenges will impact their portfolio decisions over the next year, with 46% saying they plan to have less exposure to companies whose revenue originates primarily in Europe and another 21% saying they plan to have less exposure to companies particularly sensitive to the global economy.
Russell surveyed 201 U.S. equity and fixed-income investment managers from Feb. 23 to March 6.