Investors are gearing for below-trend growth and inflation in 2012 by moving into U.S. equities, according to the December Bank of America Merrill Lynch Survey of Fund Managers released on Tuesday.
Nearly two-thirds of those surveyed predict such an economic scenario, the highest reading since Oct. 2010.
A net 50% say the outlook for U.S. profits is most favorable, while 72% say the euro region has the least favorable outlook.
They also see the dollar firming and euro weakening in 2012.
Global investors are divided over the future of the euro, and nearly half do not expect any countries to exit the euro in 2012 or the foreseeable future.
Within sectors, investors are pushing into pharmaceuticals and staples, and reducing exposure to technology, industrials and discretionary.
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